Ormat Technologies Increases Ownership Position-in Zunil Geothermal Project in Guatemala

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Ormat Technologies (ORA) announced that an Ormat subsidiary signed an agreement to purchase from CDC Group plc., a 14.09% partnership interest (13.67% on a fully diluted basis) in Orzunil I de Electricidad, Limitada (Orzunil), which owns the Zunil Geothermal Project in Guatemala. CDC Group’s investment in this project has been managed by Globeleq, an emerging markets power company. As a result of this acquisition, Ormat’s annual net income from the Zunil project is expected to increase by approximately $0.6 million on a full year basis. [ more ]

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