Ormat announced the company has acquired Constellation Energy's 50% stake in the Mammoth complex in California (USA), for USD 72.5 million. Ormat now owns the geothermal power plants, the land and associated equipment, but also the rights to more than 10,000 acres of undeveloped federal lands.

Mammoth complex is located near Mammoth Lakes, in California, and at the moment has three geothermal power plants, totalling in 29 MW. The plants have been built years ago, in 1985 and 1990.

Ormat emphasized the complex has many strong assets, including an experienced operating team running the facilities, as well as a high quality geothermal reservoir. Ormat is planning to expand the facility with more geothermal capacity very soon, upgrading existing power generating equipment and installing new capacity, with very little resource risk.

[source: Ormat]