The Puna geothermal plant. Source: Ormat. License: All Rights Reserved
A subsidiary of Ormat Technologies Inc (NYSE:ORA) has signed a deal to sell a portion of the electricity produced by the 30-MW Casa Diablo-IV (CD4) geothermal power plant in Mammoth Lakes, California.
More specifically, the Ormat unit has entered into a power purchase agreement (PPA) for a 16-MW portion of the plant with Southern California Public Power Authority (SCPPA). The latter will resell the output to the City of Colton, helping it meet close to 25% of its annual energy needs.