The Platanares geothermal project by Ormat Technologies in Western Honduras will receive financing of US$135 million from OPIC, as part of a US$1 billion commitment by the organization to fund new development projects. The Overseas Private Investment Corporation (OPIC) approved the investment for the development, construction, and operation of the 35 MW Platanares plant. As the first utility-scale geothermal project in Honduras, it is expected to generate reliable cost-effective power and help the Central American country achieve its goal of 80 percent renewables generation by 2032. Honduras requires a 26 percent increase in power generation capacity over the next decade to keep up with projected GDP growth. The remaining funds from the $1 billion commitment will go to finance private sector-led development projects in Sub-Saharan Africa, India, the Caribbean.
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