Ormat Technologies has completed its acquisition of the Blue Mountain geothermal power plant in Nevada.
The 20MW plant, which was acquired from Cyrq Energy, currently delivers power under a PPA with NV Energy which is set to expire at the end of 2029.
As part of Ormat’s growth strategy for generation capacity, the energy company plans to increases the plant’s capacity by 3.5MW. Alongside this, Ormat’s expansion plans include the proposed addition of a 13MW solar facility to support the plant’s auxiliaries, pending approval.
Doron Blachar, Chief Executive Officer or Ormat, said, “The acquisition of the Blue Mountain geothermal power plant enhances our portfolio and reinforces our commitment to sustainable base-load energy solutions. This acquisition not only immediately increases our generating capacity but also provides the potential for a significant upside in revenue generation through our planned upgrades and the potential addition of a solar facility. We are excited about the opportunities this acquisition brings, and we look forward to continuing our partnership with NV Energy as we deliver reliable and clean energy to the people of Nevada.”