Ormat Technologies’ Arrowleaf Solar and Storage Facility Secures Long-Term PPA with San Diego Community Power

RENO, Nev., July 05, 2023 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc (NYSE: ORA) and San Diego Community Power (SDCP) today announced the signing of an agreement that will bring clean, renewable, and affordable energy to the nearly 1 million customers of SDCP.

Ormat, a leading renewable energy company, and SDCP, California’s second largest community choice aggregator, signed a power purchase agreement for the Arrowleaf Solar and Storage Facility demonstrating their collective commitments to delivering clean and reliable energy solutions.

“We are excited to partner with San Diego Community Power on the Arrowleaf Solar and Storage Facility,” said Doron Blachar, CEO of Ormat Technologies. “This agreement represents a great outcome for SDCP and Ormat and will bring significant value from a solar plus storage facility that will strategically utilize the existing interconnection infrastructure that was established for our nearby Brawley geothermal power plant. As a result, Ormat can leverage prior investments to seamlessly integrate the solar and storage components into the grid, optimizing the overall energy generation and distribution system.”

The Arrowleaf Solar and Storage Facility is located in Imperial County, California, adjacent to Ormat’s operational Brawley geothermal facility and within the Imperial Irrigation District (IID) service territory. Under the terms of the 20-year contract, Ormat will provide SDCP with sustainable electricity generated by the Arrowleaf Solar and Storage Facility at predictable rates for customers.

“San Diego Community Power’s mission is to provide clean, reliable, and affordable energy to our customers across the region,” said San Diego City Councilmember Joe LaCava, Chair of San Diego Community Power. “The Arrowleaf Solar and Storage project will be a critical component to ensure that, not only are we meeting our ambitious renewable goals, but we are creating quality construction jobs that support the energy transition in our communities.”

The solar component of the project will contribute 42 MW of clean energy to the grid – enough to power approximately 31,500 homes. The project’s storage component will provide 35 MW/140 MWh of capacity, which is enough to provide 4 hours of electricity during peak consumption periods when solar is not operating.

“We are proud to contribute to and facilitate SDCP's mission,” continued Blachar. “Ormat remains dedicated to developing innovative renewable energy solutions, supporting the goals of its customers and partners, and further demonstrating our leading capabilities in the fields of geothermal power production and energy storage services."