The Vancouver-based renewable energy development company announced it signed a Power Purchase Agreement with NCPA of Roseville, Calif., for the supply of approximately 265,000 megawatt-hours per year of clean, renewable, baseload electricity at a locked-in price of $98 per megawatt-hour for 20 years.

The power will come from Western GeoPower Corp. (OTCBB:WGPWF)'s 35-megawatt Unit 1 geothermal power plant, which is expected to be operational in early 2010 at the Geysers Geothermal Field in Northern California.

"The execution of this PPA reflects the tremendous spirit of cooperation that has been created between NCPA and Western GeoPower and is a significant milestone in the development of our Unit 1 project," said Kenneth MacLeod, president and chief executive officer of Western GeoPower.

The agreement turns out to total about $26 million per year in revenue to Western GeoPower and $520 million over the 20-year term of the contract, MacLeod said.

The Geysers Geothermal Field is about 75 miles north of San Francisco and is the largest producer of geothermal electricity in the world.