Ormat Buys Added Stake in Geothermal Guatemala Plant

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Ormat Technologies (ORA) said it has agreed to buy a 50.8 percent partnership interest in Orzunil I de Electricidad Ltd., owner of a geothermal plant in Guatemala, for $14.8 million. The Zunil project includes one power plant with a capacity of 24 megawatts that is expected to generate $12.5 million in revenue next year and boost Ormat’s net income by $1.9 million in 2006. [ more ]

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