Ormat completes acquisition of Blue Mountain Nevada Geothermal Plants
Ormat Technologies has completed the acquisition of the Blue Mountain Geothermal Power Plant from Cyrq Energy, increasing the power segment that generates 1,268MW of electricity.
The $88 million deal will transfer 100% of the stake to a 20MW facility originally built with Ormat technology.
Located in Nevada, USA, the Blue Mountain facility is currently engaged in a Power Purchase Agreement (PPA) with NV Energy, which will end in the second half of 2029.
In collaboration with the strategic expansion plan, Ormat aims to upgrade and expand existing geothermal plants with an estimated 3.5MW.
To further strengthen the renewable energy footprint, Ormat proposed adding a new 13MW solar installation to provide supplemental power to the Blue Mountain site.
This addition requires permission and PPA approval.
“We’re looking forward to seeing you in the future,” said Doron Blachar, CEO of Ormat Technologies.
“This acquisition not only increases production capacity immediately, but also offers the potential for significant revenue generation benefits through planned upgrades and the possibility of additional solar facilities. We are excited by the opportunity this acquisition will bring.
In addition to the current acquisition, Ormat Technologies is Hybrid Tax Equity Partnership worth $62 million With Morgan Stanley Renewables in May 2025.
The financial collaboration includes a low-rio energy storage facility with capacity of 60MW/120 megawatt hours.
Ormat is engaged in geothermal and recovered energy production, and plans to speed up long-term growth in the energy storage market.
The company’s existing total generation portfolio is 1,558mW with a geothermal and solar system portfolio of 1,268mW, and a 290MW global energy storage portfolio in the US, Indonesia, Guatemala, Honduras, and Gaydeloop.
“Ormat Completed Acquisition of Blue Mountain Nevada Nevada Geothermal Plants” was originally created and published Power Technologya brand owned by GlobalData.
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