Consortium Honduras Advises Ormat in the Acquisition and Development of the First Geothermal Power Generation Project in the Country
December, 2013 - Honduras, Honduras
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.
Firms Involved:
Consortium Honduras, local counsel to Ormat
Chadbourne & Parke, foreign counsel to Ormat
Arias& Muñóz, local counsel to Electricidad de Cortés
Andrews Kurth, foreign counsel to Electricidad de Cortés
Lawyers Involved in Transaction:
Consortium Honduras, partners José Rafael Rivera and Gustavo León Gómez; associates Carolina Castillo, Paola Giannini, Danny Meléndez and Fernando Godoy
Chadbourne & Parke, Raquel Breszwinski
Arias& Muñóz, Evangelina Lardizábal
Andrews Kurth, Vera Rechsteiner
