Ormat Technologies (ORA) Acquires Renewable Assets for $271M

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Ormat Technologies, Inc. ORA revealed that it has completed the previously announced acquisition of a portfolio of geothermal and solar assets from Enel Green Power North America (EGPNA), a subsidiary...

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ORA revealed that it has completed the previously announced acquisition of a portfolio of geothermal and solar assets from Enel Green Power North America (EGPNA), a subsidiary...</p>\n\n<a href=\"https://finance.yahoo.com/news/ormat-technologies-ora-acquires-renewable-103300869.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Ormat Technologies (ORA) Acquires Renewable Assets for $271M</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOrmat Technologies (ORA) Acquires Renewable Assets for $271M\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-01-05 18:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/ormat-technologies-ora-acquires-renewable-103300869.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Ormat Technologies, Inc. ORA revealed that it has completed the previously announced acquisition of a portfolio of geothermal and solar assets from Enel Green Power North America (EGPNA), a subsidiary...</p>\n\n<a href=\"https://finance.yahoo.com/news/ormat-technologies-ora-acquires-renewable-103300869.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1978683503.SGD","symbol_name":"Blackrock Sustainable Energy A2 SGD-H","start_time":0,"source_url":"https://finance.yahoo.com/news/ormat-technologies-ora-acquires-renewable-103300869.html","article_id":"2401555068","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/_0dnJKvXft497_kTXuAo8A--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/1e90663b89af248bb681e17b9b09652a"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2401555068","pubTimestamp":1704450780,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Ormat Technologies, Inc. ORA revealed that it has completed the previously announced acquisition of a portfolio of geothermal and solar assets from Enel Green Power North America , a subsidiary of Enel SpA. ORA paid $271 million for 100% of the equity interest in the portfolio assets.Per the agreement, the acquired assets include two contracted operating geothermal power plants and one triple hybrid geothermal, solar PV and solar thermal power plant with a total geothermal capacity of nearly 40 megawatts  and Solar PV of 20 MW, two Solar assets with a total nameplate capacity of 40 MW and two greenfield development assets. The new additions will take the Ormat Technologies Electricity segment Generating Portfolio to 1,215 MW.ORA, currently carrying a Zacks Rank #3 , has funded the acquisition through available cash and proceeds received from the issue of $200 million in long-term debts. You can see the complete list of today’s Zacks #1 Rank  stocks here.The assets acquired by Ormat wil","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1978683503.SGD":"Blackrock Sustainable Energy A2 SGD-H","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4566":"资本集团","IE00BMG7P587.USD":"LEGG MASON CLEARBRIDGE GLOBAL INFRASTRUCTURE INCOM \"A\" (USD) INC","D":"道明尼资源","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","BK4081":"电力公用事业","LU0312595415.SGD":"Schroder ISF Global Climate Change Equity A Acc SGD","LU1093756325.SGD":"FTIF - Franklin K2 Alt Strat Fd A (acc) SGD-H1","BK4588":"碎股","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","BK4208":"复合型公用事业","IE00BD4GTT62.SGD":"Legg Mason ClearBridge Infrastructure Value A SGD-H (mdis) plus","BK4133":"新能源发电业者","BK4581":"高盛持仓","LU0124384867.USD":"贝莱德新能源基金A2","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU2384288077.EUR":"AZ EQUITY GLOBAL INFRASTRUCTURE \"A-INS\" (EUR) ACC","LU1621767737.EUR":"AZ EQUITY GLOBAL INFRASTRUCTURE \"AAZ\" (EUR) ACC","ORA":"奥玛特科技","IE00BMG7P819.SGD":"Legg Mason ClearBridge - Global Infrastructure Income A Mdis SGD-H Plus","BK4138":"石油与天然气的炼制和营销","LU1621767810.EUR":"AZ EQUITY GLOBAL INFRASTRUCTURE \"A\" (EUR) INC","LU1430594728.SGD":"Eastspring Investments - Global Low Volatility Equity AS SGD","LU1621768206.USD":"AZ EQUITY GLOBAL INFRASTRUCTURE \"AAZ\" (USD) ACC","LU0511384066.AUD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (AUDHDG) ACC","IE00BMG7P926.USD":"Legg Mason ClearBridge - Global Infrastructure Income A Acc USD","DUK":"杜克能源","LU1621768115.EUR":"AZ EQUITY GLOBAL INFRASTRUCTURE \"B\" (EUR) INC","IE00BMG7P694.USD":"Legg Mason ClearBridge - Global Infrastructure Income A Mdis USD Plus","NEP":"Nextera Energy Partners","LU0289961442.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (SGD) ACC","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET  INCOME \"A\" (USDHEDGED) INC (M)","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","NEE":"新纪元能源","IE00BD4GTV84.USD":"LEGG MASON CLEARBRIDGEINFRASTRUCTURE VALUE \"A\" (USDHDG) ACC","IE00BD4GTW91.USD":"LEGG MASON CLEARBRIDGEINFRASTRUCTURE VALUE \"A\" (USDHDG) INC","BK4585":"ETF&股票定投概念","LU1585245621.USD":"EASTSPRING INV GLOBAL LOW VOLATILITY EQUITY FUND \"A\" (USD) ACC B","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","BK4534":"瑞士信贷持仓","LU1093756168.USD":"FRANKLIN K2 ALTERNATIVE STRATEGIES \"A\" (USD) ACC"},"translate_title":"Ormat Technologies以2.71亿美元收购可再生资产","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"REGI":1,"ORA":1,"NEE":1,"D":1,"DUK":1,"NEP":0.9},"content_text":"Ormat Technologies, Inc. ORA revealed that it has completed the previously announced acquisition of a portfolio of geothermal and solar assets from Enel Green Power North America (EGPNA), a subsidiary of Enel SpA. ORA paid $271 million for 100% of the equity interest in the portfolio assets.Per the agreement, the acquired assets include two contracted operating geothermal power plants and one triple hybrid geothermal, solar PV and solar thermal power plant with a total geothermal capacity of nearly 40 megawatts (“MW”) and Solar PV of 20 MW, two Solar assets with a total nameplate capacity of 40 MW and two greenfield development assets. The new additions will take the Ormat Technologies Electricity segment Generating Portfolio to 1,215 MW.ORA, currently carrying a Zacks Rank #3 (Hold), has funded the acquisition through available cash and proceeds received from the issue of $200 million in long-term debts. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The assets acquired by Ormat will be immediately accretive to the earnings and EBITDA of the company. It plans to improve the performance of the acquired asset portfolio through a series of operational enhancement and optimization initiatives.\nTransition in Energy Space\nThe utility space is currently going through a transition. Most of the utilities are on their own, using more renewable sources of energy to produce electricity and assisting in lowering emissions. Per the U.S. Energy Information Administration’s report, renewable sources will contribute 24% of U.S. electricity generation, up from 21% in 2022.Courtesy of the construction of large utility-scale renewable projects, per the U.S. Energy Information Administration, solar and wind generation together in 2024 will overtake electric power generation from coal for the first year ever, exceeding coal by nearly 90 billion kWh.It is evident that utilities operating in the space are gradually adding more renewable assets to their generation portfolio and are shutting down old coal plants.Utilities like NextEra Energy NEE, Dominion Energy D and Duke Energy DUK, among others, are building up a huge renewable asset portfolio and continuing to lower emissions in the process.NextEra Energy, through its unit Energy Resources, continues to work on its strategy of making a long-term investment in clean energy assets. The company expects to be able to add 33-42 gigawatts (“GW”) of new renewables in the 2023-2026 time frame to the generation portfolio via clean energy investments.Dominion Energy’s long-term objective is to add 24 GW of battery storage, solar, hydro and wind (offshore as well as onshore) projects by 2036 and increase the renewable energy capacity by more than 15% per year over the next 15 years, on average. Organic projects and acquired assets will further expand the company’s clean energy portfolio. D has plans to invest $42 billion in offshore wind and solar projects during the 2022-2035 period to further expand renewable operations.Duke Energy has taken the initiative to expand its renewable asset base and aims to reach its target of net-zero carbon emissions from electric generation by 2050. The company has already lowered its carbon emissions from 139 million metric tons in 2005 to 77 million metric tons in 2022. Over the long term, it will invest $40 billion in adding clean sources such as solar, wind and battery storage resources and extend the life of its nuclear fleet to its generation fleet to cut down emissions.\nPrice Performance\nOrmat Technologies shares have gained 10.5% in the last three months compared with the industry’s growth of 9.9%.\nImage Source: Zacks Investment Research\n\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nNextEra Energy, Inc. (NEE) : Free Stock Analysis Report\nDuke Energy Corporation (DUK) : Free Stock Analysis Report\nDominion Energy Inc. (D) : Free Stock Analysis Report\nOrmat Technologies, Inc. (ORA) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2401555068"}