Ormat Signs 20-Year Power-Purchase Deal for Nevada Power Plant

(Bloomberg) — Ormat Technologies Inc., a U.S. developer of
geothermal energy, agreed to sell electricity from a power plant
in Nevada to Southern California Public Power Authority under a
20-year contract.

SCPPA will buy energy from the second phase of the Don A.
Campbell facility in Mineral County for $81.25 a megawatt-hour,
with no annual escalation, Reno, Nevada-based Ormat said in a
statement Tuesday. SCPPA intends to resell the electricity to
the Los Angeles Department of Water and Power.

Northleaf Capital Partners, which last month agreed to buy
stakes in multiple Ormat projects, will buy a 40 percent stake
in the second phase of Don A. Campbell after it’s completed.

The Los Angeles Department of Water and Power and Burbank
Water and Power previously agreed to buy power from the first
phase of the Don A. Campbell project, which used to be called
Wild Rose.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Will Wade, Steven Frank

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