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home / news releases / ORA - Ormat secures financing for Ijen geothermal power plant

ORA - Ormat secures financing for Ijen geothermal power plant

Ormat Technologies Inc.
  • Ormat Technologies ( NYSE: ORA ) and PT Medco Power Indonesia have secured a financing deal with PT Sarana Multi Infrastruktur to support the development of Ijen Geothermal Power Plant in East Java, Indonesia.
  • Medco Cahaya Geothermal, a jointly-owned company between Medco Power (51% equity share) and Ormat Technologies (49% equity share), will develop and operate the first geothermal power plant in East Java.
  • The Ijen power plant will be developed in stages with the first phase of development expected to generate 34MW in 2025.
  • Ormat ( ORA ) also signed a contract as a key contractor on OEC supply for this project.

For further details see:

Ormat secures financing for Ijen geothermal power plant
Stock Information
Company Name: Ormat Technologies Inc.
Stock Symbol: ORA
Market: NYSE
Website: ormat.com
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