Ormat Nevada says it received an initial $15m payment withthe balance due next quarter, subject to fulfillment of certain milestones.Ormat Technologies will record a $7m pre-tax gain from the transaction.
Ormat chief executive Dita Bronicki says the companyfulfilled its objectives with the Heber project. Those included to benefit fromthe synergies between Ormat’s geothermal plants and solar development, and toapply its development and experience as an engineering, procurement andconstruction contractor in utility-scalesolar plants.
It
