RE: Ram Power 2009 year end resultsGood grief . . . everytime these guys provide an update on their projects, I end up pushing something out. Now they describe New River as under "consideration" so I suppose that is at least a year behind Orita. That capacity plan they had on their website for awhile is turning out to have been way too optimistic. Maybe 50% of proposed capacity from that chart will be on-line by 2015 if they are very lucky and that assumes 4 or 5 plants coming on all at the same time in 2014ish. I thought these guys were supposed to have their act together. Starting to look like a bunch of clowns.
"Since October the Company has completed a project financing facility of $77 million for the Phase I expansion at the San Jacinto project in Nicaragua and construction is well underway and within budget for this 36 MW expansion. International Finance Corporation(IFC) is leading a syndicate to provide a project debt facility for thePhase II expansion phase to 72 MW. Construction of Phase II is plannedto be conducted in parallel to Phase I. Planning and engineering forPhase II is already at an advanced stage. The Orita project is expectedto go on line by the end of 2012 with 49.9 MW of generation capacity.The Company's New River project and other potential projects in the Imperial Valley, California are currently under consideration. Permitting has commenced for the Clayton Valley project in Nevada that has a 32 MW power purchase agreement with NV Energy."