NV Energy to buy 160 MW from Ormat's Nev. geothermal plants

Ormat Technologies Inc. will supply NV Energy Inc. with up to 160 MW of geothermal energy under two power purchase agreements, Ormat said May 19.

Under a contract signed this week, NV Energy will purchase up to 135 MW from a portfolio of Ormat's geothermal power plants in northern Nevada, including new projects. Deliveries are expected to start in the fourth quarter of 2024 and Ormat expects the full portfolio to be operational by the end of 2028.

Under an earlier agreement, signed in 2021, NV Energy will purchase 25 MW over 25 years from the new 30-MW North Valley geothermal power project in Washoe County, Nev. The plant is expected to come online by early 2023.

"These PPAs will enable both the development of multiple new projects as well as the sustainable operation of several of our existing geothermal power plants," Ormat CEO Doron Blachar said in the statement.

The contracts are subject to approval by the Public Utilities Commission of Nevada. NV Energy is a subsidiary of Berkshire Hathaway Energy.

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