Ormat completes US$150m Kenyan project

Alexander Richter 9 Dec 2008

Ormat Technologies, Inc. announced the completion of phase two construction at the Olkaria III geothermal plant in Kenya. It adds 35 MW of base load capacity to the existing 13 MW plant, which has been in operation since 2001.

The construction of both phases for the project, together with the drilling of the wells, was financed by Ormat itself investing US$ 150 million into the project from own internal sources. “Ormat is proud to have built up the plant capacity to the original target of 48 MW,” said Lucien Bronicki, Chairman and Chief Technical Officer of Yavne, Israel-based Ormat. “This accomplishment was made possible by Ormat’s belief in Kenya’s economy combined with the hard work and dedication of our Kenyan employees and colleagues.”

Source: Cleantech Israel, Ormat’s original statement available >>here<<