BlackRock becomes second largest shareholder in Ormat Technologies

Germencik 2 (Effe 3) Geothermal Power Plant, Turkey (source: Ormat Technologies)

In a report to the SEC commission on Aug. 9, 2022 on a significant change in ownership, U.S. investment company BlackRock and Ormat Technologies (NYSE: ORA) report that BlackRock had risen its shareholding in Ormat Technologies to 12.5%.

With the increase from an initial holidng of 8.3% in Ormat Technologies as of April 2022, to now 12.5% it makes BlackRock the second largest shareholder in Ormat after Japanese company ORIX which holds a 19.7% stake in Ormat. Orix acquired its stake in an acquisition from a large fund and the founder family in 2017.

The US investment giant’s holding has risen to 12.5%, making it the second biggest shareholder in the Israeli geothermal energy company.

With a share price of on averge USD 81.5 during the period, so Israeli publication Globes, Blackrock paid estimated USD 185 million for its increased share. As of August 24, 2022, with a share price of USD 92.22, Ormat has a market capitilization of USD 5.16 billion.

Source: Globes, Ormat Investor information