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.
At left is a recent post by a “friend” on FB. A couple of points that illustrate how inane and dangerous social media can be:
- This is a hoax that was debunked that year.
- Protesting the U.S. support for what’s happening in Gaza is far different than “organizing pro-Hamas rallies.”
- Objecting to the free expression of ideas is unAmerican.
Of course, stupidity exists even in the absence of social media, but there is no doubt that it accelerates that rate at which crap like this can be promulgated throughout our society.
To accept what House Speaker Mike Johnson says here, you’ll have to pretend that you received your DOGE and Tariff checks, that grocery and gasoline prices aren’t through the roof, that the national debt didn’t just break the $40 trillion barrier, and that the United States has won the illegal and pointless war in Iran.
OK, we’re stupid, but there must be a limit.
Please tell me there is a limit.
There are so many obnoxious features of Trump’s offer to bribe voters that it’s impossible to count them all.
Something that jumps out at me is that I live among people whose integrity is for sale for $5000.
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