Ormat Technologies, Inc. Completed Negotiation of Two New Power Purchase Agreements at Ormesa and Heber, and Breaks Ground for New Plant Addition to Heber Geothermal Power Complex


Ormat Technologies (ORA) announced that it completed negotiations for two new 25 years Power Purchase Agreements (PPA) with Southern California Public Power Authority (SCPPA) for the purchase of renewable energy from its geothermal projects at the Ormesa Geothermal Facilities Complex and the Heber Geothermal Facilities Complex. Ormat also announced that it celebrated the ground breaking and dedication of a new geothermal power plant within the Heber Geothermal Facilities Complex on Monday May 2, 2005. The new plant is dedicated to Mr. William R. Gould, who served as the Chairman of Southern California Edison (SCE) from 1980 through 1984, and was a driving force behind much of California’s renewable energy programs. The new 10 MW William R. Gould plant is part of an 18 MW enhancement at the Heber Geothermal Facilities Complex, including an 8 MW enhancement to existing facilities, which supply power to Southern California Edison under ongoing PPAs. [ more ]