Is it more domestic U.S. focus for international? Headquartered in Reno, Nevada, Ormat is a leading geothermal company and the only vertically integrated We continue our work in Heber to increase the capacity of the complex by 11 megawatts. And then there will be some more projects in Turkey. Let me now turn to Slide 24. We are narrowing the upper end of the guidance for the full year 2020. Starting with Slide 5. In April this year, we announced that our 10-megawatt Rabbit Hill storage facility in Texas commenced operation, providing ancillary service and energy optimization to the wholesale market managed by ERCOT. Turning to Slide 23 for a look at generation. You've talked about Olkaria to Kenya. Just on the electricity in terms of take-or-pay. US$3.0b. Turning to Slide 9. Now turning to Slide 17. I think now in August, Kenya is opening its borders, and maybe we'll be able to expedite the discussions.Okay.
Turning to Slide 25. Hosting the call today are Doron Blachar, Chief Executive Officer; Assi Ginzburg, Chief Financial Officer and Smadar Lavi, Vice President of Corporate Finance and Investor Relations. Our next question will come from Jeff Osborne with Cowen & Company.Just a couple of questions on my end. Now I will turn the call back to Doron for an operational and business update and closing remarks. The average interest rate on this debt was 5.3% -- 5.03%. Our long-term and short-term debt as of June 30 was $1.35 billion, net of deferred financing costs. Please request the “Ormat Technologies, Inc. call” when prompted by the conference call operator. Just to be clear, so are you still receiving payments from your counterparties in Kenya and Honduras? In addition, we estimate additional $87 million for the exploration and development that were not yet released for full construction, maintenance of capital expenditures, including our work at the Puna power plant, construction and development of storage projects and enhancement to our production facility, as detailed on the slide. On the field side, we connected the production well to the power plant and continued drilling of new wells. We are working today in advancing exploration. HELCO received the necessary permits from Hawaii PUC to build the transmission lines and started constructing the line. The pricing in Puna, the first 25 megawatts are avoided costs. Okay. While we continue with our efforts to minimize the COVID-19 implications on our business, our first priority from the beginning of this pandemic was to make sure that all of our employees are safe and they are able to navigate this crisis unharmed. [Operator Instructions] I would now like to turn the conference over to Rob Fink of FNK, Investor Relations. On another topic in Kenya, as we reported before, we received from the local Kenya Revenue Authority, the KRA, 3 assessments related to tax audit for the year 2013 to 2017. And as I mentioned, we have in Honduras the $20 million debt from the end of '18, beginning of '19. Ormat Technologies Contact: Smadar Lavi VP Corporate Finance and Head of Investor Relations 775-356-9029 (ext.
We completed the construction of the substation and awaiting HELCO to complete its scope of work in the substation. Another encouraging update we have this time in Honduras, where we have an overdue invoice of $20 million for the period between September 2018 and April 2019.
At Valecito project in California, we are progressing with a small delay in permitting, interconnection and EPC work due to the COVID-19 outbreak.
I'm excited to join Ormat.
The storage segment margin improved but still reported a negative gross margin, as we anticipated. And then the last one, can you just remind us how we should think about Puna with the 29 megawatts for 2021? We started to see this shift already in the second quarter, generating approximately $50 million of internal revenues that are eliminated in the consolidation, the highest level of quarterly intersegments revenue in the last 5 years. We continue to expect product segment revenues between $140 million and $150 million. I guess it would be helpful for us and for investors if you could just give an update on any discussions you are having with the utility about the contract. Is that correct?Okay. Announces 2020 Annual Meeting of Stockholders. Doron, the call is yours.Thank you, Rob, and good morning, everyone. We’re committed to innovation and to advancing the tools and technologies that enable the most efficient development of renewable energy, reducing energy waste and providing sustainable energy management solutions. As of today, the recommissioning efforts at Puna continue. There's some discussions with Kenya Power & Light about those contracts. And then just one more on the Kenya tax issue. And its payment schedule is presented on the next slide. Reconciliations to the most directly comparable GAAP measures and management's reasons for presenting such information is set forth in the press release that was issued last night as well as in the slides posted on the company's website. These forward-looking statements generally relate to the company's plans, objectives and expectations for future operations and are based on management's current estimates and projections, future results or trends.