Ormat gets $100 million credit facility

By Sara Rosenberg

New York, Oct. 8 - Ormat Technologies Inc. closed on a new $100 million three-year line of credit, according to a news release.

The company's approved unused corporate lines of credits with various commercial banks now total $260 million.

"Given the turbulence in the credit and stock markets, we are pleased to secure additional financing. Our focus is on running our business with a long-term outlook and it was with this motivation that we decided to secure additional credit lines," said Dita Bronicki, chief executive officer, in the release.

Ormat is a Reno, Nev.-based vertically integrated company primarily engaged in the geothermal and recovered energy power business.

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