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Slide #84. Ormat Technologies, Inc. — Platanares Geothermal Project in Honduras
Acquirer:
Ormat Technologies, Inc. (NYSE:ORA)
Acquiree:
Platanares Geothermal Project in Honduras
Details:
Ormat Technologies, Inc. (NYSE:ORA) announced today that its indirect, wholly-owned subsidiary, completed the acquisition of the Geotrmica Platanares geothermal project in Honduras from ELCOSA, a privately owned Honduran energy company, upon satisfaction of the required conditions precedent. Ormat will hold the assets under a Build, Operate and Transfer (BOT) structure for approximately 15 years, including the project's wells, land, permits and a Power Purchase Agreement for up to 35 megawatt with ENEE, the national utility of Honduras.
Ormat Technologies is a holding company. Through its subsidiaries, Co. is engaged in the geothermal and recovered energy power businesses. Co.'s electricity segment develops, builds, owns and operates geothermal, solar photovoltaic and recovered energy-based and geothermal power plants. Co.'s product segment designs, manufactures and sells equipment for geothermal and recovered energy-based electricity generation and remote power units and provides related services to those power plants. Co.'s energy storage segment provides energy storage, related services as well as services relating to the engineering, procurement, construction, operation and maintenance of energy storage units.
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Buy (2.75 out of 4) 15th percentile
(ranked lower than approx. 85% of all stocks covered)
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