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    1. Ormat acquires US Geothermal for $110m

      Ormat acquires US Geothermal for $110m

      Israeli geothermal energy producer Ormat Technologies Inc. announced today that it had entered into a definitive agreement to acquire US Geothermal, Inc., a renewable energy company focused on the development, production and sale of electricity from geothermal energy. Under terms of the agreement, US Geothermal shareholders will receive $5.45 per share in cash. On fully diluted basis, including payment to US Geothermal’s option holders, Ormat will pay $109.9 million. The closing of the deal is subject to customary conditions, including receipt of regulatory approvals and approval by persons holding a majority of the outstanding shares of US Geothermal common stock. The transaction is expected to close in the second quarter of 2018.

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      Mentions: Israel
    2. Renewable Energy Storage Company Enstorage Signs R&D Deals

      Renewable Energy Storage Company Enstorage Signs R&D Deals

      Israeli start-up EnStorage has signed an R&D agreement with international energy management company Schneider Electric and French energy corporation Areva to develop a renewable energy storage system. The cooperation agreement is for the development of a renewable energy storage system with sales potential in 135 countries around the world. The system that is to be developed will allow energy manufacturers, wind farms, and renewable energy manufacturers and operators to store from 150 kilowatts up to many megawatts of energy for six hours or more.

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