(Source: Datamonitor)
Ram Power, Corp., a renewable energy company, has announced that the Northern California Power Agency, or NCPA, has signed an amended and restated power purchase agreement, or PPA, with the company's subsidiary, Western GeoPower, Inc., or WGP, 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 approximately 26 MW (net) and extends the term of the agreement from 20 to 25 years, the company said.
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 megawatt (gross) capacity, known as PG&E Unit 15, operated at the steam field during 1979-1989, the company added.
"The Company remains vigilant in executing the business plan for the Geysers project," stated Walt Higgins, Interim President and CEO of Ram Power. "We are very pleased to have NCPA partner with the Company in delivering clean, reliable geothermal power to Northern California."
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