Ormat Technologies Signs 10-Year PPA With Calpine Energy Solutions for Up to 15MW of Carbon-Free Geothermal Capacity
Ormat Technologies, Inc. (ORA)
Last ormat technologies, inc. earnings: 2/25 04:30 pm
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Source: GlobeNewswire
RENO, Nev., Jan. 22, 2025 (GLOBE NEWSWIRE) -- Ormat Technologies Inc. (NYSE: ORA), a leading geothermal and renewable energy company, today announced the signing of a 10-year Power Purchase Agreement (PPA) with Calpine Energy Solutions, one of North America’s largest energy suppliers. Under this agreement, Calpine Energy Solutions will purchase up to 15 megawatts (MW) of clean, renewable energy from the Mammoth 2 geothermal power plant located near Mammoth Lakes, California, to support demand within its retail portfolio. Energy deliveries under the PPA are set to begin in the first quarter of 2027 and will replace the existing PPA with the Southern California Edison Company (SCE). Notably, the new PPA, which includes an increase in production capacity and a higher price point, highlights the tight supply-demand balance of carbon-differentiated electricity in California, driven by state Renewable Portfolio Standards (RPS) compliance needs and voluntary corporate demand. Sean Fallme
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News
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- Ormat Technologies (NYSE:ORA) had its price target raised by analysts at UBS Group AG from $105.00 to $135.00. They now have a "buy" rating on the stock.MarketBeat
ORA
Earnings
- 11/3/25 - Beat
ORA
Sec Filings
- 11/10/25 - Form 4
- 11/10/25 - Form 4
- 11/10/25 - Form 4
- ORA's page on the SEC website