Ormat Signs Power Purchase Agreement with Southern California Edison

| About: Ormat Technologies, (ORA)

Ormat Technologies, Inc. (NYSE: ORA) announced that it has signed a 20-year power purchase agreement [PPA] with Southern California Edison [SCE] to purchase 50 megawatts [MW] of clean energy output from the Brawley I Project, which is currently under construction in Imperial County, California, by Ormat. The PPA includes an option to increase capacity to 100 MWs at Ormat's discretion, and is subject to the approval of the California Public Utilities Commission [CPUC]. When completed, the Brawley I Project will increase the total output
supplied from Ormat to SCE to approximately 190 MWs.

This is evidence that geothermal can supply a significant amount of power and is deserving of backing as a major source of power. See previous posts, here and here, for an assessments of geothermals potential.