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News Breaks
November 11, 2012
11:49 EDTORAOrmat Technologies closes project financing for Olkaria III complex expansion
Ormat Technologies announced that OrPower 4, its indirect wholly owned subsidiary, has completed the financial closing of a previously announced limited-recourse project financing totaling up to $310M for the Olkaria III geothermal power complex located in Naivasha, Kenya, with the Overseas Private Investment Corporation, OPIC, an agency of the United States Government. On November 9, OrPower 4 Inc. received a disbursement of $85M representing the full amount of Tranche I of the OPIC Loan, and a disbursement of $135M from Tranche II of the OPIC Loan. The remaining amount of up to $45M of Tranche II of the OPIC Loan is expected to be drawn over time prior to the commercial operation date of the Olkaria III expansion which is expected mid-2013, subject to customary conditions precedent.
News For ORA From The Last 14 Days
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November 17, 2015
17:03 EDTORAOrmat says chairman Bronicki to resign, Beck to succeed
Ormat Technologies announced that Yoram Bronicki has resigned from his position as the chairman of the company's board of directors, effective November 16. The board of directors has appointed Stanley Stern as a director to fill the vacancy on the board, and appointed current director Gillon Beck as chairman of the board. Beck previously served as chairman from May 2012 until June 2014. Both appointments are effective upon Bronicki's resignation.

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