OPIC Puts Up $310M For Kenyan Geothermal Plant Expansion

Law360, New York (August 27, 2012, 7:07 PM EDT) -- The U.S. government's development finance arm will lend a unit of geothermal power project developer Ormat Technologies Inc. up to $310 million to add up to 52 megawatts of new capacity to a Kenyan power generation facility, Ormat announced on Monday.

The limited-recourse project financing from the U.S. Overseas Private Investment Corp. could allow Reno, Nev.-based Ormat subsidiary OrPower 4 Inc. to more than double the capacity of the existing Olkaria III geothermal power complex, according to parallel statements from Ormat and OPIC's legal counsel at...
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