Investments · Renewable energy (geothermal)
ORIX buys 22.1% of geothermal power company Ormat for about $627 million
- Investor
- ORIX (Tokyo)
- In
- Ormat Technologies, Reno, Nevada
- Value
- About $627M ($57 a share)
- Status
- Agreed on May 4, 2017; completed in July 2017.
- Date
- 2017-05-04
ORIX agreed to buy a 22.1% stake in Ormat Technologies, a Reno, Nevada company that builds and runs geothermal power plants, for about $627 million, or $57 a share. The sellers were FIMI and the Bronicki family.
Why it matters
The stake gives ORIX a position in a listed geothermal developer, adding to the renewable energy business it has built in Japan.
Sources
Kakehashi M&A News home
