Dec 27 (Reuters) - Ormat Technologies Inc:
* Retracts doe loan guarantee application for three geothermal projects in
California and Nevada
* Says decision was made in coordination with john hancock life insurance
company
* Says Ormat has decided to explore commercial financing for the projects in
lieu of doe support
* Says has decided to explore commercial financing for the projects in lieu of
doe support
* Says decision relative to the pending application for up to $330 million in
doe funding
* Says expects to secure financing for the three Nevada projects under fipp
program before the program expires
* Decision by Ormat and john hancock to remove projects from application was
due to uncertainties in permitting process
* Decision by Ormat and john hancock to remove projects from application also
due transaction costs associated with program
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* Retracts doe loan guarantee application for three geothermal projects in
California and Nevada
* Says decision was made in coordination with john hancock life insurance
company
* Says Ormat has decided to explore commercial financing for the projects in
lieu of doe support
* Says has decided to explore commercial financing for the projects in lieu of
doe support
* Says decision relative to the pending application for up to $330 million in
doe funding
* Says expects to secure financing for the three Nevada projects under fipp
program before the program expires
* Decision by Ormat and john hancock to remove projects from application was
due to uncertainties in permitting process
* Decision by Ormat and john hancock to remove projects from application also
due transaction costs associated with program
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.