Northleaf acquires 40% of select Ormat Geothermal assets
Ormat Technologies, Inc. announced that its wholly-owned subsidiary Ormat Nevada Inc achieved financial closing under the previously announced equity transaction with Northleaf Capital Partners.
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.
The purchase price implies an aggregate transaction value of approximately $442 million.