Ormat completed the acquisition of two contracted geothermal assets in Nevada from Terra-Gen for $377m.

Ormat, a geothermal company, completed the acquisition of two contracted geothermal assets in Nevada from Terra-Gen, an owner, operator and developer of utility-scale renewable and clean energy assets, for $377m. "This transaction bolsters our leadership position in the western United States, and particularly in Nevada, and increases our ability to provide electricity to both California and Nevada to help each states’ utilities meet their expanding clean energy requirements. This transaction aligns with our strategic goal of enhancing our geothermal portfolio through M&A activities," Doron Blachar, Ormat Technologies CEO.