Ram Power seeking investors for projects in California & Nevada
Ram Power is seeking investors for its debut pair of geothermal projects in California and Nevada. The funds would go toward the development of the 40-45 MW Pearl Hot Springs project in Esmeralda County, Nev., and 50 MW project in Imperial Valley, Calif.
RAM Power is “Ram Power is seeking investors for its debut pair of geothermal projects in California and Nevada. The funds would go toward the development of the 40-45 MW Pearl Hot Springs project in Esmeralda County, Nev., and 50 MW project in Imperial Valley, Calif., slated for operation between 2012 and 2013, respectively. Each will cost $100 million.”, so Power Finance & Risk in a recent article.
U.S. based RAM Power Inc., led and founded by former Ormat executive Hazy Ram, is owned to 37% by Icelandic Geysir Green Energy with headquarters in El Centro, California. In August 2008, the company secured more than a third of available leases auctioned off by BLM in Nevada. It is estimated that the company spend about US$ 10 million.