Ram Power looking for equity partner in Orita/ Imperial Valley project
Alexander Richter
1 Feb 2010
Ram Power is talking to investors to take equity stakes of up to $30 million in its 49.9 MW Orita project in Imperial Valley, California.
According to recent news, “Geothermal developer Ram Power is talking to investors to take equity stakes of up to $30 million in its 49.9 MW Orita project in Imperial Valley, California.” With overall capital cost this would represent a stake of 15% in the project, but is likely to be more given the current stage of the project.
The company estimates a capacity potential of 150-300 MW for this project which stage is currently listed as “contracted” (this represents 3×50 MW capacity phases, each expandable to 100 MW at Ram Power’s discretion.” (company presentation of November 2009). The project is located in the Imperial Valley in Southern California, with a signed PPA with SoCal Edison over 20 years. The capital cost per 50 MW plant is estimated at US$ 200 million ($4m/ MW).
According to news there are ongoing discussions with several institutional investors and investment shops.
Source: Power Finance & Risk
