Article: costa rica : Costa Rica taps Ormat for $65M geothermal deal.

Byline: sanjayV03

Nevada firm plans second project with utility Instituto Costarricense de Electricidad. Reno, Nev.-based Ormat Technologies (NYSE: ORA) is preparing to start its second geothermal project in Costa Rica after being chosen for a $65 million contract with Banco Centroamericano de Integracion Economica.

Ormat plans to build, test and commission the Las Pailas Geothermal Plant, which is planned for construction in Las Pailas Field, Costa Rica, for the country's national electricity and telecommunications company, Instituto Costarricense de Electricidad (ICE).

Under the agreement, Ormat is expected to complete the plant in 18 months. ...

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