Orzunil I. de Electricidad

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.