As part of the Geothermal Energy Master Plan a delegation of experts will be arriving from the volcanic country where 100% of the energy matrix is renewable.
Nicaragua's Geothermal Master Plan has identified 10 potential sites for geothermal generation of about 1,700 MW, located along the Pacific volcanic range.
Currently there are two geothermal fields in operation, Momotombo and San Jacinto Tizate, while El Hoyo-Monte Galan and Managua-Chiltepe and Casita-San Cristóbal Volcano have been given in concession to private companies for studies of geo-scientific exploration.
Through its subsidiary Cerro Colorado Power, the concessionaire of the project, Ram Power, expects to complete the paperwork to begin the operation by June.
After obtaining the grant for geothermal energy exploration in the Casita project in 2008, the company Ram Power is prepared to sign with the government of Nicaragua the contract for the operation of the project, estimated for midyear.
In 2013 the geothermal plant belonging to the Ram Power Company generated revenue of $46.2 million and 424 thousand MW of net power.
The company that operates the San Jacinto-Tiziano geothermal plant and also exploitation rights to the Casita San Cristobal project presented its financial results for 2013, highlights of which include the financial performance of San Jacinto-Titian.
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.
The San Jacinto Tizate geothermal project in Nicaragua, has received an initial installment of $104 million in financing, from a total loan of $160 million, which will be used to complete work on the second phase.
Antonio Rodriguez, CEO of San Jacinto Tizate, told El Nuevo Diario that part of the work is completing the installation of a second turbine.
The energy company Ram Power Corp. has conducted tests in the San Jacinto Tizate area.
The renewable energy company Ram Power announced that the geothermal power plant project in San Jacinto Tizate, León, Nicaragua, has the capacity to generate 4MW.
Last March the company began drilling a second well, in order to maximize the production capacity of the plant.
San Jacinto-Tizate, the geothermal power project by Ram Power Corporation, will cost an additional $15 to $20 million.
In a press release, the company explained they are facing complications and unforeseen cost increases, which will delay the date to begin operations for the first phase of the project, initially estimated for April 2011, until July or August of that year.
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".
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).
Gas Natural Fenosa entered into a letter of intent with Ram Power Corp to Purchase 157MW from future geothermal power plant “Casita”.
Ram Power, Corp. has entered into a Letter of Intent (the "LOI") with Disnorte-Dissur, a Gas Natural Fenosa company to negotiate a Power Purchase Agreement for energy that will be produced by a new geothermal power plant under development in Nicaragua.
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.
From Bnamericas.com: “This year, Ram Power announced it would team with the IDB and the International Finance Corporation to execute the second phase of this project, that requires a total $154 million in funding”, reported Bnamericas.com.
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.
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.
"The facility now has an electrical output of 10 MW.
Goethermal power plant San Jacinto-Tizate, located in Nicaragua, closed a $77 million credit facility.
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.
IFC would lend $216 million to Ram Power Corp for its 72 MW geothermal energy project at San Jacinto Tizate.
The International Financing Corporation (IFC), subsidiary of the World Bank, proposed to lend $40 million directly and arrange for the balance on a syndicated basis.
"IFC has also indicated that it may consider providing an additional $20 million in mezzanine debt or possible equity to the project, Ram Power said", reported Reuters.