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Ram Power provides update on the San Jacinto Phase 2 expansion

San Jacinto-Tizate, geothermal power plant, Ram Power/ Polaris Geothermal Nicaragua (source: Ram Power)
Alexander Richter 6 Feb 2012

Ram Power reports successful steam turbine generator tests by Fuji as well as progress on its construction of the San Jacinto 36 MW Phase II expansion in Nicaragua.

In a release by the company, Ram Power provides an update on its San Jacinto geothermal power plant in Nicaragua, as well as on the progress of the phase 2 expansion of the plant.

“Under the steam turbine supply contract with Fuji Electric Corp. of America (“Fuji”) for the Project’s Phase I, 36 MW steam turbine generator, Fuji was required to conduct a performance test shortly after commercial operation of the geothermal power plant to determine if the steam turbine generator meets all its guaranteed performance requirements under the contract. The test was conducted in accordance with the standard test code for steam turbines as established by the American Society of Mechanical Engineers (ASME) in order to verify that the turbine meets all its guaranteed performance requirements. The performance test was conducted on January 17, 2012 and the results confirmed that the Phase I steam turbine generator meets all guaranteed performance requirements under the contract.

Updating on the progress of construction of the San Jacinto Phase II 36 MW expansion, the company reports the continuation of construction with phase II construction being approximately 60% completed with final completion expected in December 2012. Power plant critical component engineering is 100% complete and balance of plant engineering is 92% complete as of the end of December 2011.”

On the San Jacinto Phase II Credit Facility Disbursement, the company reports it has “received the second disbursement of $14 million under its $160 million Phase II credit facility on January 30, 2012 which will be used for Phase II construction costs. To date, the Company has drawn $118 million under this credit facility.

“With the successful commercial operation of our Phase I San Jacinto project, the successful performance test of the Fuji 36 MW steam turbine generator, and with the Phase II construction on schedule for completion by the end of this year, we are very pleased with the continued strong progress at our San Jacinto project,” stated Shuman Moore, CEO of Ram Power.

Source: Company release via Marketwatch