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200 MW Geothermal Project in Nicaragua

American geothermal power company, Ram Power, yesterday, announced strong operating results for Q3 2012. The strong performance seems to result from the successful development of its signature project, San Jacinte-Tizate in Nicaragua.

Ram Power Geothermal Nicaragua

The project is situated in the northwest of Nicaragua, near the city of Leon an area known for its geothermal resources. San Jancito-Tizate is one of the highest quality geothermal reservoirs being developed in the world with the potential to produce over 200 MW of power.

In June 2011 San Jancinto-Tizate began to flow, producing 20MW.  This was higher than the required minimum for Ram Power to access a Phase II debt facility of $160 million.

In October 2012, the Company received a 17% increase to the power sales tariff under its power purchase agreement for the San Jacinto project, effective October 1, 2012, with annual escalation of 3% through and including 2022 and 1.5% thereafter through 2028.

This is looking like a secure and solid future for a company which is developing an important renewable energy source. Ram Power Corp. is involved in projects in California, Nevada, Nicaragua and Canada.

An ambitious mission statement tells us:

The Company’s mission is to become a leading global renewable power project developer and supplier of clean and reliable geothermal power.

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