Nevada Appeal Staff Report

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February 7, 2014
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Ormat finishes Kenya geothermal plant

RENO — Ormat Technologies Inc. says it has put a plant in Kenya into commercial operation almost three months ahead of schedule.

Plant No. 3 in the Olkaria III geothermal power plant complex means that complex has expanded generation capacity by 110 megawatts, according to an Ormat news release.

Power from the complex, which is in Naivasha, Kenya, is sold under a 20-year purchase agreement with Kenya Power and Lighting Company Ltd.

Ormat said the complex was financed with a $310 million debt facility provided by the Overseas Private Investment Corp. last year, and the Reno-based geothermal firm drew down the remaining $45 million to complete Plant No. 3.

“Kenya is an important market for out future growth due to its high geothermal potential,” said Dita Bronicki, Ormat’s CEO, “and we are focusing our efforts on increasing our operations in Kenya.”

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The Nevada Appeal Updated Feb 7, 2014 12:07AM Published Feb 7, 2014 12:07AM Copyright 2014 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.