New: Introducing the Finviz Futures Map

Learn More

Ormat Extends 25-Year PPA With SCPPA To Provide Renewable Energy To Southern California

By Fatima Gulzar | September 02, 2025, 4:34 AM

Ormat Technologies, Inc. (NYSE:ORA) is among the 11 Best Green Stocks to Buy According to Hedge Funds. Ormat Technologies, Inc. (NYSE:ORA) secured a 25-year power purchase agreement extension with the Southern California Public Power Authority for 52MW from its Heber 1 geothermal facility, which will take effect in February 2026. The agreement guarantees the Imperial Irrigation District and LADWP a sustained supply of renewable energy through 2052.

Ormat Extends 25-Year PPA With SCPPA To Provide Renewable Energy To Southern California

Ormat Technologies, Inc. (NYSE:ORA)’s 91MW Heber complex includes the air-cooled Heber 1 power plant, which provides continuous carbon-free electricity. The plant will support California’s grid dependability and climate goals by providing electricity to more than 77,000 households in Los Angeles. Doron Blachar, CEO of Ormat Technologies, Inc. (NYSE:ORA), acknowledged the contribution geothermal energy makes to the state’s clean energy transformation. LADWP’s David Hanson, SCPPA Executive Director Daniel E. Garcia, and IID Chair Gina Dockstader stressed the significance of the agreement in guaranteeing stable, reasonably priced, renewable energy.

Ormat Technologies, Inc. (NYSE:ORA), a prominent vertically integrated geothermal corporation with a global portfolio of 1,558MW, is also venturing into solar PV and energy storage. It is ranked ninth on our list of the Best Clean Energy Stocks.

While we acknowledge the potential of ORA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 High-Growth EV Stocks to Invest In and 13 Best Car Stocks to Buy in 2025.

Disclosure. None.

Mentioned In This Article

Latest News

3 hours
Sep-03
Sep-03
Sep-02
Sep-02
Sep-02
Aug-28
Aug-27
Aug-26
Aug-25
Aug-21
Aug-14
Aug-11
Aug-08
Aug-06