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BRIEF-Ormat secures first portfolio power purchase agreement for 150 MW of geothermal capacity

June 1 Ormat Technologies Inc

* Ormat secures first portfolio PPA for 150 MW of geothermal capacity with SCPPA

* Receipt of final approval required for execution of power purchase agreement between unit, Southern California Public Power Authority

* Energy deliveries under portfolio PPA are expected to start in Q4 2017; entire portfolio is expected to be on line by end of 2022

* Portfolio PPA is for a term of approximately 26 years, expiring in December 31, 2043 and has a fixed price of $75.50 per MWH Source text for Eikon: Further company coverage:

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