BHI, a full-service commercial bank, announced that it has entered into an agreement with Reno, Nevada-based Ormat Technologies (NYSE: ORA) to provide a new $75 million term loan for the company.

Ormat will use the proceeds for general corporate purposes, including the January 4^th 2024 acquisition whereby Ormat purchased the U.S. geothermal portfolio of Italian power & gas giant, Enel Group for $271 million.  BHI will also continue its long-standing relationship with Ormat, serving as a depository bank while maintaining an active dialogue with the entire global management team as the company continues to pursue its strategic portfolio expansion and assess ways that their equipment can further optimize facility operations.

With over five decades of experience, Ormat has engineered, manufactured and constructed power plants, which it currently owns or has installed for utilities and developers worldwide, totaling approximately 3,200 MW of gross capacity. Ormat’s current total generating portfolio is 1,385 MW with a 1,215 MW geothermal and solar generation portfolio and a 170 MW energy storage portfolio.