Ormat sells stake in geothermal power company for $7.5mn

Ormat Technologies PPA Nevada geothermal power plant Wild Rose

Ormat Technologies Inc. (NYSE: ORA) sold its stake in the Momotombo Power Co. (MPC) to a private company for $7.5 million.

MPC operates the 22 MW Momotombo geothermal power plant in Nicaragua, which operates under a concession since 1999 and sells the output to Disnorte and Dissur under a 15-year contract.

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