Ormat Technologies has signed a Power Purchase Agreement with the Southern California Public Power Authority. Under the PPA, SCPPA will purchase 16MW of power generated by the expected 30MW Casa Diablo-IV (CD4) geothermal project located in Mammoth Lakes, California. SCPPA will resell the output to the City of Colton.
Courtesy of Ormat
The CD4 power plant will be the first geothermal power plant built within the California Independent System Operator (CAISO) balancing authority in the last 30 years. The 16MW of energy deliveries under the PPA will begin no later than the end of 2021 with an extension option. The PPA is for a term of 25 years and has a fixed price of $68 per MWh. Ormat intends to sell the balance of 14MW to other offtakers or at the spot market.
Isaac Angel, CEO of Ormat Technologies said, “CD4 Project is a new state-of-the-art air-cooled binary geothermal facility that is renewable and will have no CO2 emissions, will provide resource adequacy and ancillary benefits. CD4 will allow the City of Colton to meet its clean energy standards while also ensuring grid reliability.”