Ormat Technologies has closed the previously announced acquisition of a portfolio of geothermal and solar assets from Enel Green Power North America (EGPNA), a subsidiary of Enel SpA.
Under the agreement, Ormat paid $271 million for 100% of the equity interest in the portfolio assets that include two contracted operating geothermal power plants and one triple hybrid geothermal, solar PV and solar thermal power plant with a total geothermal capacity of approximately 40 MW and solar PV of 20 MW, two solar assets with a total nameplate capacity of 40 MW and two greenfield development assets.
The overall transaction was funded through available cash, in combination with $200M newly issued long-term corporate debt.
“The acquired assets will be immediately accretive to Ormat’s profitability, and we expect to improve the generation, revenues and EBITDA performance through a series of value-enhancement initiatives, including the integration of Ormat’s own state-of-the-art equipment,” says Doron Blachar, CEO of Ormat.
“We look forward to integrating these attractive geothermal and solar assets into our existing portfolio and translating our results into enhanced shareholder value creation in both the near-and long-term. This deal serves as a testimony to our team’s execution as well as Ormat’s position as a leader in the renewable energy space, while reflecting our ongoing commitment to advancing renewable power solutions, globally.”
The post Ormat Completes Asset Acquisition From EGPNA appeared first on Solar Industry.
For those who struggle with elementary school arithmetic, Trump won the election (50%+ approval) out of more than 150 million votes cast, and now his approval rating is in the low 30s.
That’s ~30 million voters who regret their choices, out of the common American.
Add in the Tucker Carlsons of the world.
Absolutely.
It must be done, because our country is home to some hateful morons who want to see honest, hardworking, taxpaying people with brown skin deported, and their families torn apart.
It wasn’t the American way until recently, but it sure is now.
As shown at left, the United States is loaded with people who twist the facts to their liking.
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