Ormat Technologies Plans Wells at Honduras Geothermal Project

Ormat Technologies Inc., a U.S. developer of geothermal energy, bought a project in Honduras from local company Electricidad de Cortes SA and plans to start drilling wells early next year.

The Geotermica Platanares plant is expected to have an initial capacity of 18 megawatts and begin operations in about three years, Reno, Nevada-based Ormat said today in a statement. Ormat didn’t say how much it paid for the project, which includes a contract to sell as much as 35 megawatts to national-power utility Empresa Nacional de Energia Electrica.

Before it's here, it's on the Bloomberg Terminal.