Ormat Resumes Operation at Its Heber 1 Power Plant in California and Completes Expansion of the Dixie Valley Power Plant in Nevada

RENO, Nev., May 30, 2023 (GLOBE NEWSWIRE) -- Ormat Technologies (NYSE: ORA), a leading geothermal, energy storage, photovoltaic (PV) solar and recovered energy power company, today announced the successful resumption of operations at the Heber 1 power plant in California. This achievement comes after the plant temporarily shut down due to a fire incident that occurred in February 2022. This significant milestone is a testament to Ormat's operational execution and its commitment to providing reliable and sustainable energy solutions to communities in California.

In Nevada, Ormat completed a 6MW upgrade to the Dixie Valley power plant, which allows the Company to maximize its favorable long-term power purchase agreement. The upgrade involved the replacement of pre-acquisition equipment with Ormat’s state-of-the-art energy converters.

"The successful restart of the Heber 1 power plant marks a significant accomplishment for the Company," said Doron Blachar, Ormat’s Chief Executive Officer. "The replacement of the old water-cooled system with an air-cooled system has resulted in a substantial reduction in water consumption in the Imperial Valley. This upgrade not only enhances the plant's efficiency but also contributes to the conservation of vital water resources. The Heber complex, which includes Heber 1 and the repowered Heber 2, is expected to ramp up generation to approximately 87MW by the end of the third quarter, supporting our multi-year growth goals."

"We are also excited to have completed the upgrades at the Dixie Valley power plant,” Blachar added. "The Dixie Valley and Beowawe geothermal power plants in Nevada were acquired in 2021, and we have plans to upgrade both plants. With the Dixie Valley upgrade complete, we are now in the early stages of repowering Beowawe. Beowawe has received all required construction permits, and work on site is already underway and expected to be completed in the third quarter of 2024. The Heber 1 and Dixie Valley expansions—along with the additional 50MW already brought online this year—demonstrates our dual commitment to advancing renewable power solutions while meeting our long-term financial growth targets."