$42 Million for Geothermal Energy in Guatemala

ORMAT Technologies received funding for the development of Phase II of Amatitlán geothermal plant.

Monday, May 25, 2009

ORMAT provided its own funds for the development, initial project construction and well drilling. The power plant currently generates approximately 17MW ,and it is expected to reach its design capacity by the end of the second quarter of 2009, after the connection of a recently drilled well.

ORMAT Technologies, Inc. is the only vertically integrated company primarily engaged in geothermal energy. The company designs, develops, owns and operates geothermal power plants around the world.

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Costa Rica: Advances in Geothermal Projects

August 2014

The state run power company has begun development of a management plan and the drilling of wells in the Pailas II project, the first of three plants to be developed in the northern part of the country.

With funding from the Japanese government and approved by the Legislative Assembly the Instituto Costarricense de Electricidad (ICE) will start to build three geothermal projects; Pailas II, Borinquen I and II in the province of Guanacaste.

Purchase of Geothermal Project in Honduras

November 2012

Ormat Technologies announced today that one of its subsidiaries has entered into an agreement to acquire the Platanares geothermal project in Honduras.

A statement by Ormat Technologies reads:

The project involves the exploitation rights in areas where exploration work has been carried out in the past, and a Power Purchase Agreement for up to 35 MW with the National Electricity Company (ENEE).

Storm and Volcano Damage Guatemalan Geothermal Plant

June 2010

Amatitlan geothermal plant, a 20-megawatt facility, was damaged by the ash cloud of Pacaya Volcano and was shut down.

The plant is owned by Ormat Technologies, who decided to shut it down after the eruption of Pacaya Volcano on May 28th. This event, in addition to Agatha tropical storm, caused partial damage to the facility, with no reported casualties.

Geothermal plant tendered for $65 million in Costa Rica

January 2009

Ormat Technologies signed a contract with the BCIE to provide and operate a geothermal energy plant.

The plant will be installed in the Las Pailas area in Costa Rica and will be used by the Costa Rica Institute of Electricity. It should be completed in 18 months from the signing of the contract.

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