Wednesday, October 31, 2018

Honduras: Ormat Receives OPIC Loan for 35 MW Platanares Geothermal Power Plant

Ormat Technologies Announces Financial Closing and First Drawdown on Non-Recourse OPIC Project Financing for the Platanares Geothermal Power Plant in Honduras (News Release)

Rig Sky, by Steven Fercho.
Ormat's Platanares, Honduras project.
Ormat Technologies Inc. today announced that its wholly owned subsidiary has completed the financial closing of Tranche I under the previously announced Finance Agreement totaling up to $124.7 million for the 35 MW Platanares geothermal power plant in Honduras, with the Overseas Private Investment Corporation (OPIC), United States government’s development finance institution, as the sole lender.

Following the closing, Ormat received a disbursement of $114.7 million representing the full amount of Tranche I of the OPIC non-recourse project finance loan that will carry a fixed interest rate of 7.02% per annum with a maturity of approximately 14 years. The closing of the second tranche of up to $10 million is expected during the first half of 2019.

Read More.........

From the Global Geothermal News archives: