USA, Nevada:

Ormat Technologies Announces Closing of its  $442 million Equity Transaction (New Release)

Ormat receives $162.3 million for 36.75% equity interest in a 106 MW portfolio

Ormat Technologies, Inc. announced today that its wholly-owned subsidiary Ormat Nevada Inc. fulfilled all conditions precedent and achieved financial closing under the previously announced equity transaction with Northleaf Capital Partners.

Pursuant to the purchase agreement, which the parties executed on February 5, 2015, Northleaf acquired a 36.75% equity interest in a newly established Ormat holding company subsidiary for a purchase price of $162.3 million. The joint venture includes Ormat's Puna geothermal power plant in Hawaii, the Don A. Campbell geothermal power plant in Nevada, and nine power plant units across three recovered energy generation assets known as OREG 1, OREG 2, and OREG 3.

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