As per the agreed terms, the company will sell the power to SCPPA at $99 per MWh, while SCPPA will resell the power to the Los Angeles Department of Water and Power (LADWP) and Burbank Water and Power.
The Wild Rose geothermal power plant will become operational at the end of 2013, and the renewable energy from Nevada to California will be delivered using NV Energy’s One Nevada Transmission Line.
Commenting on the project, Nevada governor Brian Sandoval said that the geothermal project is a result of a joint effort between Nevada and California, and it provides employment and clean renewable energy to the communities.
Ormat president and chief operating officer Yoram Bronicki said, "Securing this PPA for Wild Rose is instrumental in diversifying our growing customer base and improving the profitability of our U.S. Fleet.
"We look forward to working with LADWP, the nation’s largest municipal utility, and BWP to provide the residents of California access to a clean and reliable energy source."
