Ormat Agrees To Acquire Contracted Operating Geothermal And Solar Assets In Nevada, Utah, And Connecticut For $271M
Portfolio Pulse from Benzinga Newsdesk
Ormat has agreed to acquire contracted operating geothermal and solar assets in Nevada, Utah, and Connecticut for $271M. The acquisition is expected to close by the first quarter of 2024, subject to regulatory approvals and customary closing conditions. Ormat plans to finance most of the purchase price through new long-term corporate debt.
October 23, 2023 | 11:31 am
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Ormat's acquisition of geothermal and solar assets could potentially increase its revenue and market share. However, the financing through new long-term corporate debt could increase its financial risk.
The acquisition could potentially increase Ormat's revenue and market share in the geothermal and solar sectors. However, the financing of the acquisition through new long-term corporate debt could increase the company's financial risk, which could negatively impact its stock price in the short term.
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