Honduras: OPIC Approves Financing for 35 MW Platanares Geothermal Project

OPIC Board Of Directors Approves Over $1 Billion In Support For Investments In Developing Countries (News Release)

The Board of Directors of the 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.

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