Reno, Nev., March 30, 2011 — Ram Power Corp. announced that the Northern California Power Agency has approved an amended and restated power purchase agreement with the company's subsidiary, Western GeoPower, for the energy produced from WGP's geothermal power plant at The Geysers Geothermal Field in Northern California.
Ram Power is a renewable energy company focused on the development, production and sale of electricity from geothermal energy. The company anticipates that the 26 MW project will be completed by the end of 2013.
The power purchase agreement amends a power purchase agreement entered into in 2008. Among other things, the power purchase agreement updates the milestones for completion of the project, adjusts the expected capacity of the project to about 26 MW, revises the purchase price per MW, and extends the term of the agreement from 20 to 25 years.
NCPA's commission approved the power purchase agreement on March 24, 2011. Subject to approval by the five NCPA members that are receiving power from the project, it is anticipated that the power purchase agreement will be signed in April 2011.
The Geysers Geothermal Field, located 75 miles north of San Francisco, is the largest producer of geothermal electricity in the world. Commercial geothermal power has been generated continuously at The Geysers Field since 1960, the present generation level being about 900 MW of renewable, baseload electricity.
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 MW capacity, known as PG&E Unit 15, operated at the steam field during 1979-1989.
NCPA, located in Roseville, California, is a joint powers agency providing clean, renewable energy to its 17 member communities and districts in Northern and Central California.