Wedoany.com Report-Jun 20, Ormat Technologies recently completed its purchase of the Blue Mountain geothermal power plant from Cyrq Energy for $88 million. The acquisition, which includes full ownership of the 20MW facility in Nevada, USA, boosts Ormat’s electricity generation portfolio to 1,268MW.

Ormat has proposed adding a new 13MW solar installation to supply auxiliary power to the Blue Mountain site.

The Blue Mountain plant, built with Ormat’s technology, operates under a power purchase agreement (PPA) with NV Energy, set to expire in late 2029. Ormat plans to enhance the facility by increasing its capacity by approximately 3.5MW. Additionally, the company has proposed a 13MW solar installation to provide auxiliary power, pending necessary permits and PPA approval.

Ormat’s CEO, Doron Blachar, highlighted the strategic importance of the acquisition: “The acquisition of the Blue Mountain geothermal power plant enhances our portfolio and reinforces our commitment to sustainable base-load energy solutions. This acquisition not only immediately increases our generating capacity but also provides the potential for a significant upside in revenue generation through our planned upgrades and the potential addition of a solar facility. We are excited about the opportunities this acquisition brings, and we look forward to continuing our partnership with NV Energy as we deliver reliable and clean energy to the people of Nevada.”

The acquisition aligns with Ormat’s goal to expand its renewable energy presence. In May 2025, Ormat also secured a $62 million hybrid tax equity partnership with Morgan Stanley Renewables for the 60MW/120 megawatt-hour Lower Rio energy storage facility. This collaboration supports Ormat’s broader efforts to grow in the energy storage market.

Ormat specializes in geothermal and recovered energy generation, with a total generating portfolio of 1,558MW. This includes 1,268MW from geothermal and solar facilities and 290MW from energy storage projects across the United States, Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe. The company aims to accelerate long-term growth in both geothermal and energy storage sectors.

The Blue Mountain acquisition strengthens Ormat’s position in the renewable energy market, offering opportunities for capacity expansion and integration of solar power. By leveraging its expertise and partnerships, Ormat continues to advance sustainable energy solutions in Nevada and beyond.