Polaris Energy

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The POLARIS Project involves the development, construction, ownership and operation of the  expansion of an existing geothermal power plant in San Jacinto (province of Leon).

The company owns the San Jacinto-Tizate (SJT) geothermal concession which covers a 40 km2 area near León, Nicaragua. Since June 2005, PENSA has operated a 10 MW geothermal power project, 2 turbines of 5 MW each. The company has expanded its operations by adding 72 MW of new capacity by installing two turbines of 36 MW each, which are known as Phase 1 and Phase 2. Phase 1 achieved commercial operation in January 2012 and Phase 2 has reached technical completion in December 2012. Both Phases are now being operated as a single integrated facility using the same network of extraction and injection boreholes.

BIO is contributing to the financing of the project alongside FMO and other DFIs with an amount of USD 11,3 million.

In the past Nicaragua’s energy supply was inefficient and environmentally unfriendly, with a high dependence on fossil fuels and high energy costs. The Polaris project helps to reduce dependence on fossil fuels and reduce the generation cost of energy substantially. Furthermore, the project will contribute to meet the growing demand for energy in Nicaragua.

Polaris contributes to stable, clean and affordable base load electricity. Together with the wind project Amayo, BIO’s investments in the renewable energy sector contributes to a relatively high degree of sustainable energy in Nicaragua, which during the windy season can amount to 70% of the domestic electricity generation.

Website : www.ram-power.com

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