RENO, NV--(Marketwire - February 21, 2012) - Ram Power, Corp. (TSX: RPG) ("Ram Power" or the "Company"), a renewable energy company focused on the development, production and sale of electricity from geothermal energy, is pleased to announce the following update for the San Jacinto Phase I expansion project in Nicaragua.
As required by the Phase I loan agreements, the Company conducted a 30-day performance test on the Phase I unit to verify that the plant meets its minimum generation capacity. The Phase I expansion was required to produce 23,688 MWh in order to achieve certification. During the performance test, the plant maintained a 99.997% availability, operating at the required 36 MWh net output from the Phase I Fuji turbine and exceeding the requirements of the performance test.
Currently, the Phase I expansion is running at 39 MW (net). This production level is slightly lower than expectations for Phase I due to the temporary Phase II steamfield piping construction activities that prevent the proper manifolding of all of the available steam at the site. As part of the scheduled Phase II construction, the Company is currently completing the full integration of the steamfield gathering and injection systems required for both Phase I and Phase II operations which will result in the full 72 MW (net) output.
Shuman Moore, CEO of Ram Power, stated, "Our Nicaraguan project is progressing well. Completing the 30 day test of our 36 MW San Jacinto Phase I unit with such a high availability, and so quickly after the plant's initial synchronization, demonstrates the high skill levels of our operations staff and the superior quality of the equipment."
This press release contains "forward-looking information" within the meaning of applicable securities laws including information regarding the business of Ram Power. Readers are cautioned not to place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by this information. The statements in this press release are made as of the date of this release. Ram Power undertakes no obligation to update forward-looking information, other than as required by law, or comment on analyses, expectations or statements made by third parties in respect of Ram Power, or its financial or operating results or its securities.
Director of Investor Relations
Ram Power, Corp.
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