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Ormat Technologies, Inc., a key player in renewable energy, has inked a 30-year Power Purchase Agreement (PPA) with Electricité de France (EDF) for a new 10MW geothermal power plant on Guadeloupe Island, where we hold a 63.75% equity stake.
This will complement Ormat’s existing 15MW Bouillante geothermal power plant, with the new project expected to go operational by the end of 2025, boasting a sea water-cooled binary system utilizing Ormat Energy Converters (OEC) for maximum efficiency. The transaction is a testimony to Ormat’s dedication to advancing clean energy solutions and pioneering sustainable practices for a greener future.
Speaking about the development, Doron Blachar, CEO of Ormat Technologies, said, “This landmark agreement is the second agreement with EDF, reflecting the strength and value creation of our existing relationship. With the addition of the new Bouillante power plant in Guadeloupe and the recent signing of the new 10MW power plant to be built in Dominica, our total geothermal capacity in the Caribbean region will be 35 MW by the end of 2025. Further, this long-term agreement to expand generation capacity and supply clean, renewable, and reliable power to the island demonstrates our steadfast commitment to sustainable low carbon energy solutions. Not only are we transforming the energy landscape, but we’re also enhancing the quality of life for residents in the geographies in which we operate.” |
