Ram Power starts stabilization period for resource of San Jacinto plant
San Jacinto power plant (source: Ram Power)
Alexander Richter
29 Apr 2014
As part of the final phase of the remediation program at its San Jacinto geothermal plant in Nicaragua, Ram Power Corp. has started a 30-day stabilisation period of the resource field.
Ram Power, Corp. announced yesterday, “that the Company has commenced the 30-day stabilization period of the resource field for the San Jacinto-Tizate project. Following the conclusion of the 30-day stabilization period expected on May 18th, the Company will conduct a 7-day performance test to determine the net operating output of the Project which is expected to conclude on May 25th. Upon completion of the plant capacity test, the Company is eligible for distributions if it is able to meet certain debt service coverage ratios and other operational requirements.
“The commencement of the 30-day stabilization period is the result of great efforts put forth by our resource team in San Jacinto,” stated Antony Mitchell, Executive Chairman for Ram Power. “I would like to thank the shareholders and lenders for their continued support of the Project as we begin the final phase of the remediation program.”
Source: Company release via Benzinga
