Ram Power Begins Construction of 36 MW Phase 1 Expansion of Geothermal Project in Nicaragua

Ram Power through its subsidiary unit, Polaris Energy Nicaragua announced the commencement of on-site construction of the 36 megawatt Phase 1 expansion. This construction is being carried out at the San Jacinto-Tizate geothermal power project near Leon, Nicaragua.

Dignitaries and guests from many companies participated in the official groundbreaking ceremony. The dignitaries include: Tom Ogryzlo, Senior Vice President of Ram Power's for Latin America, President of Nicaragua, the honorable Jose Daniel Ortega Saavedra, the Ram Power Board of Directors led by Chairman Chris Thompson, and Hezy Ram, President and CEO of Ram Power.

This Phase 1 expansion intends to increase the production of the San Jacinto-Tizate geothermal power project from 10 MW to 46 MW and achieve final target of 72 MW by the end of the year 2011. This expansion is the first step in introducing advanced geothermal technology to a currently existing utility scale power facility that will provide the region with cost-effective geothermal energy.

In order to attain a total capacity of 72 MW, Ram Power is expecting to drill only two extra production wells, since there are two more recently drilled production wells tested at 16 MW and 22.8 MW. Based on a long-term power purchase agreement, the 72 MW electrical productions will be sold to Nicaraguan subsidiary units of Union Fenosa, a Spanish based utility. This expansion, which has two phases, has obtained all the necessary permits and is scheduled for completion in the fourth quarter of the year 2011.

Chris Thompson, Chairman of Ram Power, remarked that Ram Power’s goal to be established as a leading provider of geothermal energy in Central America will be fulfilled by the expansion carried out in the San Jacinto-Tizate facility. Thompson considers the region of Nicaragua as perfect area that will help the company to provide energy on a long term basis.

Source: http://www.ram-power.com

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