RENO, NV, Jan. 26 /PRNewswire-FirstCall/ - Ram Power, Corp. (TSX: RPG) ("Ram Power"), through its subsidiary, Polaris Energy Chile Limitada ("PECL"), is pleased to announce that it has won two geothermal concessions in Chile. The two concessions are known as "Aucan I" and "Laguna Verde". PECL was granted the Chile concessions following a competitive bidding process involving geothermal energy leaders throughout the world. Chile is recognized for having abundant geothermal resources and the Chilean government strongly encourages bringing more geothermal green power into the generation mix. Chile is fast becoming the new frontier for geothermal exploitation and exploration due to world-wide interest. The Aucan I and Laguna Verde hydrothermal systems both exhibit associated high-temperature fumaroles which are features common to large and quality reservoirs.
The Aucan I concession is located in Northern Chile, in the First Region of Tarapaca and the Second Region de Antofagasta. The Laguna Verde concession is located in Northern Chile, in the Third Region of Atacama. The total area of the concessions is 247,000 acres. The concessions are close to mining centers with access to roads and transmission line infrastructure. There is the potential for bilateral contracts with the mines which need stable, cost-efficient base load power to replace their expensive power supplies.
Dr. Mario Arana, Board Member for Ram Power, Corp. said, "We are pleased with the award of these two concessions. It is clear from our success at our San Jacinto-Tizate Project in Nicaragua that the Chilean government has complete confidence in Ram Power's ability to develop these concessions. We look forward to our continued success in Latin America and beyond."
About Ram Power, Corp.
Ram Power is a renewable energy company based in Reno, Nevada, engaged in the business of acquiring, exploring, developing, and operating geothermal properties and has an interest in geothermal projects primarily in the United States, Canada, and Latin America.
This press release contains "forward-looking information" within the meaning of applicable securities laws including information regarding the business of Ram. Readers are cautioned to not 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, 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, or its financial or operating results or its securities.
SOURCE Ram Power, Corp.