Ormat Technologies Inc. (NYSE: ORA) signed amendments to power purchase agreements with Central Coast Community Energy and Silicon Valley Clean Energy for its Casa Diablo-IV geothermal power plant in California, according to a company statement.

The amended agreements extend the original contracts from 10 years to 15 years, with new expiration dates in 2037 instead of 2032. The contracts cover 15MW of the 35MW facility's total capacity, with each agreement increasing from 7MW to 7.5MW effective October 1, 2026.

Contract pricing under the amended agreements is approximately 27% higher than the original terms. The original power purchase agreements were signed in 2022.

The Casa Diablo-IV facility is part of Ormat's Mammoth geothermal complex in California. The remaining output from the facility is sold to the Southern California Public Power Authority.

"These amended agreements strengthen our long-term partnerships with 3CE and SVCE while enhancing their resource adequacy at a time when electricity demand continues to grow rapidly," said Doron Blachar, chief executive officer of Ormat Technologies.

Ormat Technologies operates geothermal and renewable energy facilities with a total generating portfolio of 1,755MW, including 1,340MW of geothermal and solar generation capacity across the United States, Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe.