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Stock impact report

Ormat Technologies Signs PPA for a New Geothermal Power Plant in Guadeloupe

Ormat Technologies, Inc. (ORA) 
Last ormat technologies, inc. earnings: 2/25 04:30 pm Check Earnings Report
US:NYSE Investor Relations: investor.ormat.com
Company Research Source: GlobeNewswire
RENO, Nev., March 04, 2024 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA), a leading renewable energy company, announced today that it has signed a 30-year Power Purchase Agreement (PPA) with Electricité de France (EDF) for the development of a new 10MW geothermal power plant on the Island of Guadeloupe, in which we own a 63.75% equity interest. The new plant development will be added to Ormat’s existing 15MW Bouillante geothermal power plant. The project’s field development is completed with resource secured and is expected to be operational by the end of 2025. The new power plant will be a sea water-cooled binary system using state-of-the-art Ormat Energy Converters (OEC). The system will be positioned approximately 100 meters above sea level and will incorporate an intermediate cooling loop, which will optimize energy efficiency. This milestone reflects Ormat’s commitment to pushing the boundaries of clean energy development and cutting-edge clean energy technolo Show less Read more
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