Ormat Technologies Completes Final Drawdown of $45 Million From OPIC for Final Phase of Construction at Olkaria III Geotherma...
25 Novembro 2013 - 8:00PM
Ormat Technologies, Inc. (NYSE:ORA) announced today that OrPower 4
Inc., its wholly owned subsidiary, drew down the remaining $45
million available under its project finance facility with Overseas
Private Investment Corporation (OPIC). This drawdown will be used
to complete the final phase of construction at the Olkaria III
complex in Naivasha, Kenya, bringing the geothermal power plant
capacity to over 100 MW.
The $45 million drawdown comprises Tranche III of the previously
announced $310 million project finance facility with OPIC. The
drawdown of Tranche III has a fixed interest rate of 6.12%. This,
together with the earlier conversion of Tranches I and II to a
fixed interest rate, as reported July 15, 2013, eliminates any
exposure under the facility to movements in market interest
rates.
Dita Bronicki, chief executive officer of Ormat, commented, "The
final drawdown of this landmark financing from OPIC to a geothermal
IPP in Kenya demonstrates support from strong sponsors and
environmentally conscious lenders in the successful development of
additional projects. We will continue to work with OPIC to
explore additional financing for future projects in Kenya and
elsewhere."
About OPIC
OPIC is the U.S. Government's development finance institution,
OPIC provides financial products, such as loans and guaranties;
political risk insurance; and support for investment funds, all of
which help American businesses expand into emerging markets and
solve critical development challenges.
About Ormat Technologies, Inc.
With over four decades of experience, Ormat Technologies, Inc.
is a leading geothermal company and the only vertically integrated
company solely engaged in geothermal and recovered energy
generation (REG). The company owns, operates, designs, manufactures
and sells geothermal and REG power plants primarily based on the
Ormat Energy Converter—a power generation unit that converts low-,
medium- and high-temperature heat into electricity. With over 82
U.S. patents, Ormat's power solutions have been refined and
perfected under the most grueling environmental conditions. Ormat
has over 500 employees in the United States and about 600 overseas.
Ormat's flexible, modular solutions for geothermal power and REG
are ideal for the vast range of resource characteristics. The
company has engineered, manufactured and constructed power plants,
which it currently owns or has supplied to utilities and developers
worldwide, totaling approximately 1600 MW of gross capacity.
Ormat's current generating portfolio of 595 MW (net) is spread
globally in the U.S., Guatemala and Kenya.
Ormat's Safe Harbor Statement
Information provided in this press release may contain
statements relating to current expectations, estimates, forecasts
and projections about future events that are "forward-looking
statements" as defined in the Private Securities Litigation Reform
Act of 1995. These forward-looking statements generally relate to
Ormat's plans, objectives and expectations for future operations
and are based upon its management's current estimates and
projections of future results or trends. Actual future results may
differ materially from those projected as a result of certain risks
and uncertainties. For a discussion of such risks and
uncertainties, see "Risk Factors" as described in Ormat
Technologies, Inc.'s Annual Report on Form 10-K filed with the
Securities and Exchange Commission on March 11, 2013.
These forward-looking statements are made only as of the date
hereof, and we undertake no obligation to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise.
CONTACT: Ormat Technologies Contact:
Dita Bronicki
CEO
775-356-9029
dbronicki@ormat.com
Investor Relations Contact:
Todd Fromer/Rob Fink
KCSA Strategic Communications
212-896-1215 (Fromer)/212-896-1206 (Fink)
tfromer@kcsa.com / rfink@kcsa.com
Ormat Technologies (NYSE:ORA)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Ormat Technologies (NYSE:ORA)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024