Reno, Nev., June 10, 2011 — The Northern California Power Agency has signed an amended and restated power purchase agreement with the Ram Power Corp. unit Western GeoPower, Inc. for the purchase of all energy and available environmental attributes from WGP's proposed geothermal power plant at The Geysers Geothermal Field in Northern California.
Among other things, the power purchase agreement adjusts the purchase price, updates the milestones for completion of the project, adjusts the expected capacity of the project to about 26 MW (net) and extends the term of the agreement from 20 to 25 years.
The Geysers Geothermal Field, located 75 miles north of San Francisco, California, has been continuously generating commercial geothermal power since 1960. The present generation level being about 900 MW of clean, baseload electricity.
WGP owns or leases all of the geothermal rights necessary to develop the project. The project's steam field is situated in the southwestern region of The Geysers Field in Sonoma County. A commercial power plant of 62 MW (gross) capacity, known as PG&E Unit 15, operated at the steam field during 1979-1989.
NCPA, located in Roseville, California, is a joint powers agency providing clean, renewable energy to its 17 member communities and districts in Northern and Central California. Founded in 1968, NCPA owns and operates power plants that together comprise a 95 percent emission-free generation portfolio. NCPA owns and operates geothermal power plants, hydroelectric plants, simple combustion turbine plants and steam injected combustion turbine plants.
Ram Power is a renewable energy company based in Reno, Nevada, engaged in the business of acquiring, exploring, developing, and operating geothermal properties. Ram Power has an interest in geothermal projects, primarily in the U.S., Canada, and Latin America.