Ormat Technologies, Inc. announced that its indirect, wholly-owned subsidiary, completed the acquisition of the Geotérmica Platanares geothermal project in Honduras from Electricidad de Cortés (ELCOSA), a privately owned Honduran energy company, upon satisfaction of the required conditions precedent . Ormat will hold the assets under a Build, Operate and Transfer (BOT) structure for approximately 15 years, including the project’s wells, land, permits and a Power Purchase Agreement for up to 35 megawatt with ENEE, the national utility of Honduras...
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Consortium Honduras acted as local counsel to acquirer, Cementos Argos, fifth cement producer in Latin America and second in the United States, in a USD 305 million acquisition of the largest cement company in Honduras, Lafarge Cementos, in the country´s biggest deal in 2013. The acquired company has a yearly production capacity of 1.3 million metric tons, increasing Argo´s yearly production capacity to 17 million metric tons. Consortium Honduras participated throughout the due diligence process with U.S. firms and in house counsel in Colombia and Honduras. Consortium is preparing the applicable regulatory approvals...