Italy's ENEL finalizes sale of several US green assets to Ormat
Feb 05,2024 | DAXTROMNSOLAR
Italian renewable energy company ENEL has announced the finalization of its sale of several US green assets to Ormat Technologies. The deal, valued at $290 million, includes geothermal, solar, and energy storage facilities located across three US states. This move is part of ENEL's strategy to focus on its core businesses and reduce its presence in North America. Ormat, an Israeli clean energy firm, is set to strengthen its renewable energy portfolio with this acquisition.
This sale is a significant step for ENEL as it aims to streamline its operations and concentrate on its core competencies. By divesting its US green assets to Ormat, ENEL can refocus its efforts on expanding its renewable energy projects in key markets. The transaction not only aligns with ENEL's strategic goals but also helps Ormat enrich its portfolio with technologically advanced renewable energy assets.
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In conclusion, the sale of ENEL's US green assets to Ormat showcases the companies' strategic decision-making and commitment to renewable energy development. ENEL's divestment aligns with its core objectives, while Ormat's acquisition strengthens its position in the clean energy sector. With products like the DAXTROMN Power 10KW Pure Sine Wave Inverter with Charger, individuals can enjoy the benefits of solar energy as a primary power source while having the convenience of grid electricity as a backup option. This all-in-one device proves to be a valuable asset for home energy storage.
