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.
From the Global Geothermal News archives:
- Monday, April 30, 2018 - Honduras: Newly Inaugurated 35 MW Geotérmica Platanares Geothermal Power Plant Supported by Financing from U.S. Overseas Private Investment Corporation
- Tuesday, September 26, 2017 - Honduras: 35 MW Platanares Geothermal Plant Starts Commercial Operation