$77 Million for Geothermal Plant San Jacinto-Tizate

Goethermal power plant San Jacinto-Tizate, located in Nicaragua, closed a $77 million credit facility.

Monday, January 4, 2010

The consortium of lenders includes Central American Bank for Economic Integration (CABEI), Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), Export Development Canada and Cordiant Capital.

Ram Power, owner of the project, "expects to boost site power capacity to 72 MW by fourth quarter 2011. Both phases of the project will use state-of-the-art Fuji turbine generators".

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More on this topic

Nicaraguan Geothermal Power Plant Secures Funding for Expansion

September 2010

For the end of the month, Ram Power will have secured the funding for the second phase of the San Jacinto Tizate geothermal power plant.

With the construction of the second phase, power generation will be increased to 72MW.

"The amount financed will be around $160 million and will be mostly provided by the Inter-American Development Bank (IDB) and the World Bank, reported Hezy Ram, CEO of the company".

Nicaraguan Geothermal Project After IDB Funding

April 2010

Ram Power, developer of Geothermal Power Plant San Jacinto Tizate, asked the IDB for $40 million in funding.

The Inter-American Development Bank would loan $40 million for constructing the second phase of the plant, that would take the project’s total generation capacity to 72 MW.

Nicaragua: Geothermal Plant Receives $18 Million

March 2010

San Jacinto Tizate Geothermal power plant today received $18 million dollars from a total $77 available through a credit facility with various financial institutions.

These resources will be invested by Polaris Energy Nicaragua, a subsidiary of Ram Power Corp, in Phase II of geothermal power plant San Jacinto Tizate. This expansion will add 36MW, taking the plant to 72MW.

$20 Million for Nicaraguan Geothermal Power Plant

January 2010

Ram Power Corporation and Polaris Energy Nicaragua secured a loan from CABEI to enlarge San Jacinto Tizate geothermal power plant.

With these $20 million from the Central American Bank for Economic Integration, the Canadian companies have complete the $77 million funding required for expanding the power plant.

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