Geothermal Facility Will Utilize Ormat’s Binary Technology to Further Reduce Greenhouse Gas Emissions and Decarbonize the California Power Grid

Ormat Technologies, Inc. (NYSE: ORA), a leading geothermal, energy storage, solar PV and recovered energy power company, today announced the commercial operation of the Casa Diablo-IV (“CD4”) 30 MW geothermal power plant. The CD4 facility provides 7 MW of geothermal power to two Community Choice Aggregators, Silicon Valley Clean Energy and Central Coast Community Energy, each under a 10-year power purchase agreement (“PPA”). In addition, the facility provides 16 MW of geothermal power to the Southern California Public Power Authority under a 25-year agreement.

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CD4 is the first geothermal power plant built within the California Independent System Operator balancing authority in the last 30 years and will be the first in Ormat’s portfolio that will sell its output to a Community Choice Aggregator. CD4 is a state-of-the-art, air-cooled binary facility that provides stable and reliable renewable benefits twenty-four hours a day, with zero carbon emissions.

“We are pleased to begin operation of CD4. These three strategic PPAs support Ormat’s long-term plans to grow our geothermal business in California, while also demonstrating the value of Ormat’s unique binary technology in providing zero-emission, renewable energy at affordable prices,” commented Doron Blachar, Ormat’s Chief Executive Officer. “We look forward to leveraging our proven capabilities to help deliver clean energy to our partners and their end-users, while also ensuring grid reliability. We are thrilled to partner with sustainability-focused electricity providers to support the power needs of these California communities while advancing our growth plans. With our 30MW CD4 geothermal power plant and the addition of our 20MW Wister Solar power plant, which started operation last week, our total portfolio has reached 1,163MW and we are on track to reach our goals for 2023.”

Source: Ormat Technologies