Kenya: Olkaria III Plant 4 Supplies Additional 29 MW Geothermal

Ormat Announces Commercial Operation of Plant 4 in Olkaria III in Kenya, Expanding Complex Capacity to Nearly 140 MW (News Release)

Harmony with Nature by Abraham Sam Samuel taken at Olkaria

Ormat Technologies, Inc. announced today that it reached commercial operation of Plant 4 in the Olkaria III complex in Kenya, increasing the complex total generating capacity by 29 MW to 139 MW.

Plant 4 will sell its electricity to Kenya Power and Lighting Company Limited (KPLC) under a 20-year PPA. In October 2015, Ormat signed an amendment to the Power Purchase Agreement (PPA) with KPLC that enables the increase of the capacity of Plant 4 expansions to an aggregate of 100 MW, in phases.

Ormat has implemented a multi-phased development strategy in Olkaria III. The first phase of Plant 1 commenced operation in 2000 and the second phase in 2009. Plant 2 commenced commercial operation in 2013 and plant 3 in 2014. Ormat financed the first three plants of the complex with a $310 million debt facility provided by the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution. Plant 4 was financed by Ormat equity which is covered under insurance policy from the Multilateral Investment Guarantee Agency (MIGA) - a member of the World Bank Group, to cover its exposure to certain political risks involved in operating in developing countries.

Read More........