Ormat Industries: The California energy crisis created an opportunity to integrate into the US electricity production network.
Ormat Industries bought two geothermal power stations in Nevada, for $31 million. The company also bought two other sites for the development of geothermal plants in Oregon and California as part of the transaction.
Ormat says the California energy crisis, which could spread to other regions of the US, created an opportunity to integrate into the US electricity production network, including the purchase and improvement of power stations, the acquisition of companies and divisions that own power stations, and its own development of projects, especially in the geothermal field.
Published by Israel's Business Arena on 1 July 2001