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Projects

Project Brief

Summaries of proposed guarantees are provided prior to Board consideration and before final contract signing, and they are therefore subject to change. Project briefs are disclosed after Board consideration and contract signing and reflect the terms of the project at the time of contract signature. Environmental and Social Review Summaries are provided for projects assigned an Environmental Assessment Category of A or B.

 

Project name
Orzunil I. de Electricidad
Project ID
3253
Fiscal year
1997
Status
Not Active
Guarantee holder
Ormat International, Inc.
Investor country
Israel
United States
Host country
Guatemala
Sector
Power
Gross exposure
 $12.9 million
Project type
Non-SIP

MIGA issued separate guarantees of $4.5 million and $8.5 million, respectively, to Ormat International, Inc. of the United States, a subsidiary of Israel-based Ormat International, Inc., for its equity and loan investments in the construction and operation of a 24-megawatt geothermal power plant in Guatemala. MIGA guarantees cover the risks of transfer restriction, expropriation, and war and civil disturbance. IFC will provide equity and debt financing to the project.

The first geothermal plant in Guatemala, Orzunil I., S.A. is also MIGA's first project in the country. The plant, to be located in the province of Quetzaltenango, 200 kilometers west of Guatemala City, will make an important contribution toward alleviating power shortages in that province. Employees will receive training in technology, design, operations, and maintenance.

 
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