Ormat acquires Blue Mountain geothermal plant in Nevada, boosting electricity segment; plans expansion

From Yahoo Finance: 2025-06-19 10:21:00

Ormat Technologies has completed the acquisition of the Blue Mountain geothermal power plant in Nevada from Cyrq Energy, boosting its electricity segment generating portfolio to 1,268MW. The $88m deal includes a 20MW facility under a power purchase agreement (PPA) with NV Energy until 2029. Ormat plans to upgrade and expand the plant by 3.5MW and add a 13MW solar installation.

Ormat Technologies CEO Doron Blachar highlighted that the acquisition of the Blue Mountain geothermal power plant strengthens their commitment to sustainable energy solutions. The deal not only increases generating capacity but also offers revenue potential through upgrades and a possible solar facility addition. Ormat looks forward to delivering clean energy to Nevada in partnership with NV Energy.

In addition to the Blue Mountain acquisition, Ormat Technologies has entered a hybrid tax equity partnership worth $62m with Morgan Stanley Renewables for the Lower Rio energy storage facility. With a current generating portfolio of 1,558MW, Ormat is focusing on geothermal, recovered energy, and energy storage market growth in various countries, including the US, Kenya, Guatemala, and Indonesia.



Read more at Yahoo Finance: Ormat completes Blue Mountain Nevada geothermal plant acquisition