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Ram Power Signs PPA for 300 MW of Geothermal Power
Ram Power, Inc. has signed an agreement with Southern California Edison Company for the supply of up to 300 megawatts of clean, geothermal power.
The agreement, between Ram Power, Inc. and Southern California Edison, which is subject to approval of the California Public Utilities Commission, includes an initial contract for 40 to 100 megawatts of power from a geothermal generating facility, with two expansion options, each of the same capacity. The initial agreement as well as each option is for a primary term of 20 years with a 10-year extension by mutual agreement.
When complete, those projects (which are referred to as Orita 1, 2 and 3) are to include three facilities of up to 100 megawatts each. The projects, located in the Imperial County of California near the City of Brawley, are expected to come on line in 2013, 2014 and 2015, and will utilize double flash geothermal technology with the use of geothermal steam condensate as the primary source of make-up water for their cooling towers.
In making this announcement Daniel Schochet, Executive Vice President of Ram Power said; "This is an example of Southern California Edison.s commitment to expanding its renewable energy portfolio and benefits its customers, suppliers and the environment". Schochet added; "We are pleased that with the Orita Geothermal Projects we can look forward to a productive, long-term partnership with SCE, which is the continuation of more than 25 years of the building of professional relationships by Ram Power's senior management with Southern California Edison for the supply of clean, base-load, competitively priced geothermal energy".
About Ram Power
Ram Power Inc. is a geothermal development company formed by a core team of professionals with extensive experience and expertise in all relevant aspects of renewable energy project development. The aggregate capabilities of this team create a well balanced company to pursue Ram Power's goals to develop and operate 400 MW of geothermal power projects in California and Nevada by 2015. Geysir Green Energy holds a 37 percent share in Ram Power Inc.
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