Ormat Raises $175M From Northleaf Capital

February 8, 2015 | Ormat Technologies announced that its subsidary Ormat Nevada has entered into an agreement to receive infrastructure funds managed by Northleaf Capital Partners. According to a report, Ormat will provide geothermal and recovered energy generation power plants to a new joint-venture holding company that will be established together with Northleaf. Ormat will raise $175 million as part of the deal that is expected to be closed in the first quarter of 2015. The Ormat power plants that will be a part of the joint venture include the Puna geothermal power plant in Hawaii, the Don A. Campbell geothermal power plant in Nevada and nine other power plant units. Ormat was founded in 1965 by engineer Lucien Bronicki and his wife Yehudit Bronicki.