The US company announced it has signed, on December 7, a binding Memorandum of Understanding (MOU) to gradually acquire 85% of Géothermie Bouillante SA (GB). GB owns and operates a 14.75 MW geothermal power plant and owns two exploration licenses with a total additional potential capacity of up to 30 MW, all located in Guadeloupe Island, a French territory in the Caribbean.
Ormat Technologies Inc. has vast experience in constructing and operating geothermal power plants. The company has engineered, manufactured and constructed power plants, which it currently owns or has installed to utilities and developers worldwide, totalling approximately 2,000 MW of gross capacity. Ormat Technologies Inc.’s current 666 MW generating portfolio is spread globally in the U.S., Guatemala and Kenya.
Shearman & Sterling’s team was led by partner Guillaume Isautier (Paris-M&A), assisted by associates Adnane Belahcen (Paris-Project Development & Finance), Marie Guis (Paris-Project Development & Finance) and Barbara le Chapellier (Paris-M&A).