Ormat Nevada, Inc., a subsidiary of Ormat Technologies, Inc (NYSE : ORA) could raise USD 72 million of equity for this first tranche of financing of its Geothermal Power Plants in the US. A bidding process organized by BNP Paribas resulted in the underwriting, by leading financial institutions, of the equity. BNP Paribas and the client awarded the transaction to a group led by Morgan Stanley and Lehman Brothers, which offered the best deal to Ormat. This allowed Ormat to monetize the tax attributes of the transaction (principally depreciation and renewable energy production tax credits) that it would not have been able to fully utilize, had it not entered into the transaction.