Renewable energy firm Ormat up on deal with Dominica to develop a power plant
06/12/2023 15:22
** Shares of renewable energy firm Ormat Technologies
ORA.N up 1.51% to $69.74
** Co signs 25-year power purchase agreement with Dominica
Electricity Services for development of 10 megawatts (MW) binary
geothermal plant in the Commonwealth of Dominica in the
Caribbean
** Project to be financed by issuance of concessional
long-term debt at below-market interest rate
** Plant is expected to be operational by end of 2025
** Along with other planned projects, total generating
capacity in the Caribbean expected to be ~35 MW - Co
** Including session's gains, stock has fallen 19.36% YTD
(Reporting by Kabir Dweit)
((Kabir.Dweit@thomsonreuters.com))