Ormat Signs with SCPPA for Renewable Energy

[] The Power Purchase Agreement (PPA) signed by Ormat Technologies and Southern California Public Power Authority (SCPPA) for the purchase of renewable energy from Ormat’s Gould Plant geothermal project, located within the Heber Geothermal Facilities Complex, is for 10 MW, energy only, to be sold at a fixed price of $57.50/MWh with an annual escalation of 1.5 percent and includes the value for the energy as well as the Environmental Attributes. In addition, 30 percent of the Production Tax Credits, if and when available, will be shared with the power purchasers.