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.
Related Questions
How will the 25‑year PPA extension affect Ormat’s future revenue and earnings forecasts?
What impact will the secured 52 MW baseload supply to LADWP and IID have on Ormat’s market share and competitive positioning in the U.S. geothermal sector?
Are there any credit or counterparty risks associated with SCPPA that could influence the valuation of Ormat’s stock?