Enel Green Power NA geothermal and solar portfolio — Cove Fort (UT), Stillwater & Salt Wells (NV), solar assets (CT)
Ormat acquires contracted operating geothermal (40 MW) and solar PV (40 MW) assets plus two greenfield development sites from Enel. Includes triple-hybrid Stillwater plant (geothermal + solar PV + solar thermal). Funded via cash and $200M new long-term corporate debt.
$271M
Deal Value
150MW
Capacity
Geothermal
Technology
CT, NV, UT
Location
Deal Details
- Deal Type
- Project & Portfolio M&A
- Seller / Sponsor
- Enel Green Power North America
- Buyer / Financier
- Ormat Technologies
- Deal Value
- $271M
- Stage
- Operating
- ISO/RTO
- WECC
- Source
- Ormat Technologies
Capital Structure
$271M
Total transaction value
Tranches
- Newly issued long-term corporate debt (acquisition funding)
- $200M
- Available cash (acquisition funding) · Ormat Technologies
- $71M
Finance Counterparties
Lenders & Capital Providers
- lender
- BHI USA
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