Ormat Secured a Financing Agreement for the Development of Ijen Geothermal Project

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Jan 12, 2023

RENO, Nev., Jan. 12, 2023 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA) - Ormat Technologies (NYSE: ORA) and PT Medco Power Indonesia (“Medco Power”) through their subsidiary company, PT Medco Cahaya Geothermal (“MCG”), signed a Financing Agreement with PT Sarana Multi Infrastruktur (Persero) (“SMI”) for development of Ijen Geothermal Power Plant. The signing was witnessed by Harris Yahya, Geothermal Director of the Ministry of Energy and Mineral Resources, Adi Lumakso Director of Generation Management of PT PLN (Persero), Hilmi Panigoro President Director of MedcoEnergi, Doron Blachar CEO of Ormat, Eka Satria President Director of Medco Power and Edwin Syahruzad President Director of SMI.