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Strategic Sale of Major US Geothermal Development Company CompletedMarathon Capital announced today the sale of AMP Resources, LLC to Enel, N.A. Inc., a wholly owned subsidiary of Enel S.p.A., Italy. Marathon represented AMP exclusively on this geothermal transaction. The transaction involves the sale of one operating plant and four late-staged development projects, aggregating to as many as 150 megawatts of generating capacity. The transaction does not include Recurrent Engineering, AMP's technology and waste-heat division or its Willowstick division, which utilizes geophysics and proprietary technology to identify fluids below ground as these businesses will be retained by AMP Capital, the primary seller. Dr. John Stevens, a principal of AMP Capital reports that after an extensive process, AMP Capital was delighted that the extraordinary package of western US development assets AMP had assembled, were now going to be under the control of a world-class company like Enel. "They have the geothermal experience, the capital and the burning ambition to use the AMP assets as a platform to become a dominant player in the US geothermal business. We have every confidence in Toni Volpe (CEO of Enel North America), and the Enel team." Ted Brandt, CEO of Marathon Capital, remarked that "This geothermal transaction clearly demonstrates the value of quality development projects and development pipelines within the geothermal space. The AMP portfolio of projects is a unique package of late-stage assets and we are delighted that a strategic player like Enel will use the assets and key employees as its platform to enter the US geothermal market." About Marathon Capital, LLCMarathon Capital is an experienced investment banking firm focused on the global energy and infrastructure markets, with expertise in geothermal transactions and geothermal M&A. Marathon is headquartered in Bannockburn, Illinois and maintains offices in New York City and SanFrancisco. Marathon Capital's website is . For more information about Marathon Capital's geothermal investment services, please contact us at 847-574-2670. View printable version of this press release.
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