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ORIX closes $627M deal for stake in Ormat Technologies

Japan-based ORIX Corp. has completed the purchase of a 22.1% ownership stake in Ormat Technologies Inc. from an investor group, according to a July 28 filing with the Federal Energy Regulatory Commission.

Under the $627 million deal, ORIX bought 11 million Ormat common shares at $57 apiece from FIMI ENRG LP, Bronicki Investments Ltd. and senior members of management. The parties completed the deal July 26. (FERC docket EC17-120)