The plant will be utilized by Instituto Costarricense de Electricidad (ICE), the Costa Rican national electricity and telecommunications company. The contract is valued at approximately $65 million and supply of the power plant is expected to be completed within 18 months from the contract start date.

Dita Bronicki, CEO of Ormat Technologies, said: "We are very pleased to receive this repeat contract for a geothermal project in Costa Rica and to be able to contribute to the country's effort to move closer to independence from fossil energy sources.

"The award of these contracts demonstrates the trust that Banco Centroamericano de Integracion Economica (BCIE) and ICE have in our ability to contribute experience and knowledge to the development of this new geothermal field."

A service of YellowBrix, Inc.