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Ram Power's Nicaragua geothermal project faces delays and higher costs

Monday, February 7, 2011

Ram Power said its San Jacinto-Tizate geothermal project in Nicaragua encountered construction delays and was also facing higher material and labor costs.

The project, which has a target commission date of July, has about $15-$20 million of additional construction costs, the company said. Under the revised Phase II exploration drilling program, the company is expected to incur about $27 million in additional drilling expenses to complete the program.

Original source: Reuters