Ram Power announced that operations of a 10 MW binary unit at its San Jacinto-Tizate geothermal project in Nicaragua could begin in the first quarter of 2014.
According to Business News Americas, the company said it signed a mandate letter with IFC to lead and arrange a syndicate of lenders to finance up to $42 million of the binary unit. Construction is scheduled to begin in late 2012.
In January, Ram started commercial operations of the 36 MW first phase of San Jacinto-Tizate's expansion that brought capacity to 46 MW. Once the 36 MW second phase is complete by year-end, 10 MW of backpressure units will be decommissioned, leaving 72 MW.
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