Ormat Readies Calpine Geothermal Assets

[Globes online] Ormat Technologies has filed a shelf registration with the SEC for raising $1 billion. Less than a month ago, U.S. energy giant Calpine filed for chapter 11 bankruptcy. Since then, analysts wonder where Ormat might fit into the picture. At the close of trading in New York yesterday, Ormat apparently took its first step towards answering that question when its subsidiary Ormat Technologies announced that it had filed a universal shelf registration statement with the Securities and Exchange Commission. …It is very likely that Ormat is arming itself with cash to be ready the moment that Calpine’s geothermal assets are offered for sale.

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