May 1 (Renewables Now) - 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)