Ormat Sells Heber Solar PV Project For $35.25 Million

Posted by SI Staff on March 27, 2014 No Comments
Categories : Projects & Contracts

Ormat Nevada Inc., a wholly owned subsidiary of Ormat Technologies Inc., has sold its 10 MW Heber Solar project in Imperial County, Calif., to RET Holdings LLC for $35.25 million.

The project, which started development in 2011, has a 20-year power purchase agreement (PPA) with the Imperial Irrigation District.

‘The Heber Solar project, Ormat's first PV project in the U.S., was developed in a cost-effective way,’ says Dita Bronicki, CEO of Ormat." We plan to continue monitoring the solar market and pursue opportunities for developing PV plants in locations where we can offer competitively priced power generation.’

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