Ormat Technologies Inc. announced the completion of the expansion of its McGinness Hills Phase 3 geothermal power plant in Eastern Nevada. The expansion increases the power plant net capacity to approximately 69 MW, bringing the entire McGinness Hills complex capacity to a total of approximately 160 MW. The McGinness Hills Phase 3 power plant continues to sell its electricity under the current 25-year long term portfolio power purchase agreement with Southern California Public Power Authority (SCPPA) to provide 100% of the geothermal power from the expansion project to the Los Angeles Department of Water and Power (LADWP). LADWP has been receiving 48 MW of McGinness Hills 3 geothermal power plant since December 15, 2018. The recently completed McGinness Hills Phase 3 Expansion project on May 5, 2021 will provide an additional 21.25 MW to LADWP. These two projects, coupled with the four other Ormat geothermal projects totaling 57.4 MW, brings LADWP's total Northern Nevada geothermal portfolio with Ormat to 126.65 MW.
Ormat Technologies, Inc. is a geothermal company that is engaged in geothermal and recovered energy generation (REG). The Company owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter, a power generation unit that converts low, medium and high-temperature heat into electricity. It owns or has installed for utilities and developers worldwide, totaling approximately 3,200 megawatts (MW) of gross capacity. Its segments include Electricity Segment, Product Segment and Energy Storage Segment. Electricity segment develops, builds, owns, and operates geothermal and solar Photovoltaic (PV). Product segment designs, manufactures, and sells equipment for geothermal and recovered energy-based electricity generation. Energy Storage segment owns and operates a grid connected In Front of the Meter (IFM) Battery Energy Storage System (BESS) facilities. Its portfolio includes 1,385 MW with 1,215 MW geothermal and solar generation.