Thursday, May 3, 2018

Honduras: Ormat Signs Finance Agreement for 35 MW Geotérmica Platanares Geothermal Power Plant

Ormat Technologies Signs $125 Million Non-Recourse Finance Agreement with OPIC for the Platanares Geothermal Power Plant in Honduras (News Release)

Ormat Technologies Inc. today announced that its Platanares project subsidiary and the Overseas Private Investment Corporation (OPIC), United States government’s development finance institution, signed a Finance Agreement to provide a loan (on a non-recourse project finance basis) totaling up to $124.7 million for the 35 MW Platanares geothermal power plant in Honduras.

The OPIC Loan may be funded to Platanares in up to three total disbursements and will have a final maturity of approximately 14 years. Ormat expects to drawdown the loan in two tranches - a first tranche of $114.7 million concurrently with closing, and a second tranche of $10 million within two quarters from closing.