Wedoany.com Report-May 8, Ormat Technologies Inc., a leader in geothermal energy, has acquired the Blue Mountain geothermal project in Humboldt County, Nevada, to enhance its U.S. portfolio. Announced on May 7, 2025, during Ormat’s Q1 2025 financial results, the acquisition cost $88 million, subject to standard adjustments, and supports the company’s goal of expanding geothermal capacity.
Blue Mountain Faulkner-1, geothermal power plant, Nevada
Doron Blachar, CEO of Ormat Technologies, stated: “We continued to execute our growth plans and strengthened our geothermal portfolio with the acquisition of the Blue Mountain project.” The acquisition aligns with Ormat’s strategy to boost capacity and development in key geothermal regions.
Located in a geothermally active area of northwestern Nevada, the Blue Mountain project has a history of ownership changes. Commissioned in October 2009 by Nevada Geothermal Power Inc., it was later owned by EIG Global Energy Partners (2013–2015), AltaRock Energy’s Baseload Clean Energy Partners (2015–circa 2018), Cyrq Energy (circa 2019), and Macquarie Infrastructure Partners (from March 2021). The 20 MW facility, built with Ormat technology, has a 51 MW interconnection capacity and a Power Purchase Agreement with NV Energy, set to expire in 2029. It has not met its original 49 MW production target.
Ormat plans to upgrade the plant, increasing its capacity by 3.5 MW, and, pending permits and agreement approvals, add a 13 MW solar facility to support operations. The acquisition is expected to finalize by the end of Q2 2025. Leveraging its technical expertise, Ormat aims to optimize the project through exploration, drilling, and engineering.
The Blue Mountain project strengthens Ormat’s Nevada operations, which include major sites like McGinness Hills, Steamboat, Don A. Campbell, and Tuscarora. With over 1 GW of global geothermal and renewable energy capacity, Ormat views this acquisition as a strategic step toward its target of adding 100–130 MW of geothermal capacity by the end of 2026.
The acquisition reflects a broader trend of revitalizing underperforming geothermal assets in the western U.S., driven by state clean energy goals and federal incentives. By integrating Blue Mountain into its development pipeline, Ormat seeks to enhance the project’s value through advanced technology and reservoir optimization, contributing to sustainable energy solutions.
