Ormat Technologies issues USD 340 million equity on the NYSE
Categories: Capital Markets
Israeli geothermal company Ormat Technologies has issued USD 340 million in equity on the NYSE.
Herzog advised Goldman Sachs as book running manager in a transaction led by
Ron Ben-Menachem and Mohammad Mawasi, while Davis Polk also advised as underwriter’s counsel.
The company operates in two sectors of activity in geothermal energy: in the electricity sector it builds power plants and operates them under its own ownership, and in the products sector it builds power plants for others. At the same time, the company also operates in the field of energy storage.
In 2022, the electricity sector accounted for 86% of the company’s revenue including 70.6% of sales in the US.
