December 30, 2009 (FinancialWire) — Ram Power, Corp. (TSX: RPG), through its wholly owned subsidiary Polaris Energy Nicaragua S.A., has closed a $77 million credit facility with a consortium of lenders including Central American Bank for Economic Integration.

The proceeds from this credit facility together with equity previously invested fully will fund the completion of the firm’s San Jacinto-Tizate Phase 1 geothermal power project, according to Ram.

Phase I of the project will expand production of the existing 10 megawatt facility to 46 MW by April 2011.

Nevada-based Ram Power is a renewable energy company engaged in the business of acquiring, exploring, developing and operating geothermal properties and has an interest in geothermal projects primarily in California, Nicaragua and Nevada.

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