Home

Top Jobs
CIVIL ENGINEER OR PROFESSIONAL ENGINEER
Energy Analyst- Project Engineer
Energy Engineer II
Senior Mechanical Engineer
Energy Program Design Supervisor-BU
Director of Engineering
Electricity Sector Specialist
Senior Energy Efficiency Program Analyst
Mechanical Engineer
Utility Engineer
Submit a Position
Find a Position

Upcoming Events
Uganda and Tanzania Localisation Forum 2018 / Mozambique Assembly 2018
Polana Serene Hotel, Avenida Julius Nyerere 1380, Maputo, Mozambique.,
1/22/18 - 1/26/18
AME Roundup 2018
Vancouver Convention Centre West, 1055 Canada Place, Vancouver V6C 0C3, Canada,
1/22/18 - 1/25/18
Africa Energy Forum: Off the Grid
Dar Es Salaam,
1/23/18 - 1/25/18
East Africa Energy and Infrastructure Summit
Dar Es Salaam,
1/23/18 - 1/23/18
MiaGreen Expo & Conference 2018 (9th edition)
777 NW 72 Ave,
1/24/18 - 1/25/18
Submit an Event
View All Events


Sain Featured Employer

Ormat Commissions the First Geothermal Power Plant in Honduras

 

Follow energycareer on Twitter

Sign-Up for Free Energy, Facility, Power Newsletter (EFPN) newsletter

 

 

 

Ormat Technologies, Inc. announced that its 35 MW Platanares geothermal project in Honduras has commenced commercial operation.

Ormat signed a Build, Operate, and Transfer (BOT) contract for the Geotérmica Platanares geothermal project in Honduras with ELCOSA, a privately owned Honduran energy company, for 15 years from commercial operation date (COD). Geotérmica Platanares sells its power, under a 30-year power purchase agreement with the national utility of Honduras, ENEE. The project is expected to generate average annual revenue of approximately $33 million.

The Platanares power plant was built using Ormat equity funds and is expected to be refinanced with project finance debt that will be provided by the Overseas Private Investment Corporation (OPIC), the U.S. Government's development finance institution. The financing is expected to be signed and closed within a couple of months following COD and the fulfillment of certain conditions precedent set forth in the loan documents.

"The addition of Platanares, Honduras' first geothermal power plant, to our operating portfolio is an important milestone, underscoring our commitment to growing internationally," noted Isaac Angel, Chief Executive Officer "Since we started to implement our strategic plan to expand our global footprint, we have diversified our operating portfolio with three new regions and are currently operating 762 MW in six countries. We are working on multiple prospects in Africa, Asia and Central America and plan to enhance our presence where there is a potential along with solid demand for reliable geothermal power."

The Platanares geothermal project is regulated by the Law to Promote the Generation of Electric Energy by Renewable Resources, which was enacted in 2007. Under this law, the project is expected to benefit from a 10-year income tax holiday.

Return Home

 

Follow energycareer on Twitter