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Ormat Signs 25-Year PPA Extension with SCPPA, Securing Long-Term Renewable Energy Supply for Southern California
RENO, Nev., Aug. 25, 2025 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA) (the “Company” or “Ormat”), a leading geothermal and renewable energy company, announced today that it signed a 25-year extension to its existing power purchase agreement (PPA) with the Southern California Public Power Authority (SCPPA), for 52MW from Heber 1 geothermal facility. This long-term agreement, which is effective February 2026, will ensure the continued delivery of clean, baseload geothermal energy to t
About this update from Ormat Technologies, Inc.
[{"type":"image","alt":"Ormat Technologies, Inc.","displaySize":"","headline":null,"caption":"Ormat Technologies, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":236,"height":300,"url":"https://media.zenfs.com/en/globenewswire.com/7a225ca9e9abe7c97b1be71865ca23ad"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/dUqKwb6XWe8Xke5upDoGCA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTUzNDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/7a225ca9e9abe7c97b1be71865ca23ad","width":236,"height":300}},"lazy":false},{"type":"text","content":"RENO, Nev., Aug. 25, 2025 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA) (the “Company” or “Ormat”), a leading geothermal and renewable energy company, announced today that it signed a 25-year extension to its existing power purchase agreement (PPA) with the Southern California Public Power Authority (SCPPA), for 52MW from Heber 1 geothermal facility. This long-term agreement, which is effective February 2026, will ensure the continued delivery of clean, baseload geothermal energy to the Los Angeles Department of Water and Power (LADWP) and the Imperial Irrigation District (IID). Ormat will supply the SCPPA with electricity from the Ormat Heber 1 geothermal facility, located in the Imperial Valley of Southern California.","length":740,"tagName":"p"},{"type":"text","content":"“This previously announced agreement has now received the required approvals, which demonstrates both the promise of geothermal energy and Ormat’s ability to deliver reliable, renewable power at scale,” said Doron Blachar, Chief Executive Officer of Ormat Technologies. “We are proud to extend our partnership with SCPPA, LADWP, and IID in order to continue supporting California’s climate leadership and ambitious climate and energy transition goals through our Heber 1 geothermal facility.”","length":492,"tagName":"p"},{"type":"text","content":"The Heber 1 power plant, one of Ormat’s flagship geothermal assets, has been a cornerstone of clean energy supply in Southern California for decades. Now operating with the latest air-cooled technology following its successful repowering project, the power plant, together with the entire Heber complex, delivers 91MW of carbon-free, around-the-clock electricity. This extension now ensures that the Heber 1 power plant will continue serving millions of California residents through 205...