Honduras opens 35-MW geothermal power plant

The Honduran government inaugurated on Monday a 35-MW geothermal power plant located in the community of Platanares.

Named Geoplatanares, the new park plant was developted by US-Israeli geothermal company Ormat Technologies Inc (NYSE:ORA) and required a total investment of HNL 3 billion (USD 126.7m/EUR 105m). ​It is the country's first renewable power generation facility of this kind.

According to the government press release, Geoplatanares is part of the National Economic Development Programme Honduras 20/20. The project is also considered to be the result of the strong cooperation and friendship ties between Honduras and Israel, which in turn sends a message to investors to come to the Central American country, president Juan Orlando Hernandez said during the inauguration ceremony.

Currently, Ormat has a global geothermal portfolio of 2,000 MW spread over 150 plants throught 75 countries, the government noted.

(HNL 10 = USD 0.42/EUR 0.35)

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