Ormat Technologies' Arrowleaf Solar And Storage Facility Secures Long-Term PPA With San Diego Community Power
Portfolio Pulse from Happy Mohamed
Ormat Technologies, Inc (NYSE:ORA) and San Diego Community Power (SDCP) have signed a power purchase agreement for the Arrowleaf Solar and Storage Facility. The facility, located in Imperial County, California, will provide SDCP with sustainable electricity at predictable rates for customers under a 20-year contract. The solar component of the project will contribute 42 MW of clean energy to the grid, enough to power approximately 31,500 homes. Operations are expected to commence in the first half of 2025.
July 05, 2023 | 12:53 pm
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POSITIVE IMPACT
Ormat Technologies has signed a long-term power purchase agreement with San Diego Community Power for the Arrowleaf Solar and Storage Facility. This could potentially increase Ormat's revenues and profitability in the long run.
The signing of a long-term power purchase agreement with San Diego Community Power for the Arrowleaf Solar and Storage Facility is a positive development for Ormat Technologies. This agreement could potentially increase Ormat's revenues and profitability in the long run, as it secures a steady stream of income for the company for the next 20 years. Furthermore, the project aligns with the growing trend towards renewable energy, which could enhance Ormat's reputation and market position.
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