Constellation Divests Geothermal Assets to Ormat

9 August 2010 (Last Updated August 9th, 2010 18:30)

Constellation Energy will sell its interest in the Mammoth Geothermal Plant, California, to an Ormat Technologies subsidiary for $72.5m. Constellation and Ormat each owned a 50% interest in Mammoth-Pacific, LP (MPLP), which owns and operates three geothermal plants comprising the 29MW f

Constellation Energy will sell its interest in the Mammoth Geothermal Plant, California, to an Ormat Technologies subsidiary for $72.5m.

Constellation and Ormat each owned a 50% interest in Mammoth-Pacific, LP (MPLP), which owns and operates three geothermal plants comprising the 29MW facility.

With the sale, Constellation has divested its last investment in the geothermal field.

The sale proceeds will be available for redeployment on strategic priorities according to the firm that had been involved with MPLP since mid-1980s.