OPIC Board Of Directors Approves Over $1 Billion In Support For Investments In Developing Countries (News Release)
Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, yesterday approved support for new development projects including a geothermal energy project in Honduras.
OPIC approved up to $135 million in financing to Geotérmica Platanares, S.A, sponsored by Reno, Nevada-based Ormat Technologies, Inc. for the development, construction, and operation of a 35 megawatt geothermal baseload power plant in Western Honduras. Honduras requires a 26 percent increase in power generation capacity over the next decade to keep up with projected GDP growth.
This project will be the first utility-scale geothermal project in Honduras and is expected to generate sustainable, reliable, and cost-effective power, while contributing to the Honduran Government’s goal of generating 80 percent of its energy from renewables by 2032.
Ormat will be exhibiting at the GRC Annual Meeting & GEA GeoExpo+, October 23-26 in Sacramento, California.