Nicaraguan Geothermal Power Plant Secures Funding for Expansion

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.

Thursday, September 16, 2010

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".

As the second Nicaraguan Geothermal Plant, this project will help to demonstrate the viability of this renewable power source and will also stimulate private investment in electricity generation.

More on this topic

Geothermal Energy in Nicaragua

March 2012

The volcanic mountain range of los Maribios could potentially generate more than 1,500 megawatts for the country.

Studies by the Ministry of Energy and Mines (MEM) estimate that the volcanoes of the Los Maribios range, along the Pacific area, could give the country a generation potential of more than the 1,500 megawatts in 12 areas or geothermal fields, a capability that could liberate Nicaragua from dependence on oil as a source of electricity.

$ 190 Million for Geothermal Power Plant in Nicaragua

November 2010

The IFC will provide $ 50 million and mobilize an additional $ 140 million to support the construction of a new geothermal power plant.

This plant is the largest project in Nicaragua in over 25 years in this sector. This initiative will foster the generation of renewable energy, expand electrification and help reduce the country's dependence on imported fuels.

Nicaragua to expand geothermal energy with IDB help

August 2010

A $40 million loan will support the expansion of the San Jacinto-Tizate project, boosting power generation capacity

The Inter-American Development Bank (IDB) announced the approval of a $40 million loan to finance the second phase expansion of the San Jacinto-Tizate geothermal power project, which is being developed by a private sector company, Polaris Energy Nicaragua S.A. (PENSA).

$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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