Polaris Geothermal reaches agreement with government in Nicaragua
Alexander Richter
22 Aug 2009
Polaris Geothermal Inc. has reached an agreement with the Ministry of Energy and Mines of Nicaragua to establish new dates for the commencement of construction and completion of Phases I and II at San Jacinto geothermal power plant.
Reported recently, “Polaris Geothermal Inc. (TSX: GEO) has reached an agreement with the Ministry of Energy and Mines of Nicaragua to establish new dates for the commencement of construction and completion of its Phase I – MCT (24 MW) expansion to 34 MW and its subsequent Phase II – MCT Expansion to 72 MW at its San Jacinto-Tizate geothermal power project located near Leon, Nicaragua.
Construction of the Phase I-MCT steamfield and power plant installations will now start by Oct. 31, 2009 with completion scheduled to occur 18 months thereafter. The Phase II expansion will start with drilling scheduled to commence at the end of June 2010 with commercial operation scheduled to commence at the end of March 2012.”
Source: Company release via Energy Current
