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Ormat Signs 15-Year Power Purchase Agreement With Clean Power Alliance for Heber South Geothermal Facility
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Ormat secures 15-year PPA for Heber South geothermal plant
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Ormat Signs 15-Year Power Purchase Agreement With Clean Power Alliance for Heber South .
Ormat Technologies, Inc.May 12, 2021 GMT
RENO, Nev., May 12, 2021 (GLOBE NEWSWIRE) Ormat Technologies Inc. (NYSE: ORA) announced that it has signed a 15-year power purchase agreement (PPA) with the Clean Power Alliance (CPA), which is the fifth largest electricity provider in California and the single largest provider of 100% renewable energy to customers in the nation. Under terms of the agreement, effective January 1, 2022, CPA will purchase 14 MW of clean, renewable energy from Ormat’s Heber South Geothermal facility located in Imperial Valley, CA. The CPA Board of Directors approved the PPA during its May 6 meeting. This 14 MW of baseload geothermal power is expected to advance CPA’s greenhouse gas emission reduction goals while enhancing overall reliability for CPA’s more than one millio
Ormat Signs 15-Year Power Purchase Agreement With Clean Power Alliance for Heber South Geothermal Facility
First PPA With Clean Power Alliance (CPA), With Potential for Additional Agreements in the Future
May 12, 2021 06:45 ET | Source: Ormat Technologies, Inc. Ormat Technologies, Inc. Reno, Nevada, UNITED STATES
RENO, Nev., May 12, 2021 (GLOBE NEWSWIRE) Ormat Technologies Inc. (NYSE: ORA) announced that it has signed a 15-year power purchase agreement (PPA) with the Clean Power Alliance (CPA), which is the fifth largest electricity provider in California and the single largest provider of 100% renewable energy to customers in the nation. Under terms of the agreement, effective January 1, 2022, CPA will purchase 14 MW of clean, renewable energy from Ormat’s Heber South Geothermal facility located in Imperial Valley, CA. The CPA Board of Directors approved the PPA during its May 6 meeting. This 14 MW of baseload geothermal p
Dive Brief:
Toronto-based storage provider Hydrostor is developing 1,000 MW of long-duration energy storage in California, using a patented compressed air technology that, according to President and Chief Operating Officer Jon Norman, operates effectively like a giant air battery.
The company is developing two projects in the state each with up to 500 MW of storage capacity and representing a total investment of $1.5 billion that are scheduled to come online in 2026. Its compressed air technology can provide up to 12 hours of storage, but the projects are expected to have around eight hours of duration, according to Norman.
Regulators in California are growing increasingly interested in long-duration storage as the state moves towards its clean energy goals. Earlier this year, a California Public Utilities Commission (CPUC) ruling recommended that the state procure 1 GW of storage with a minimum duration of eight hours to meet system needs after the retirement of the Diabl
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