Ram taps fund sources for San Jacinto-Tizate expansion

In Nevada, Ram Power, Corp. subsidiary Polaris Energy Nicaragua S.A. said it had satisfied the conditions required to draw down the credit loan facility with the Central American Bank for Economic Integration, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V., Export Development Canada, and Cordiant Capital. Conditions included a corporate equity investment, which already has been fully invested. Eighteen million dollars of the available $77 million credit facility was disbursed, aimed at completing the San Jacinto-Tizate Phase I plant. The Phase II expansion for an additional 36 MW, for a total expansion to 72 MW, is being constructed in parallel using Ram corporate equity funds until the expected close of Phase II debt financing in the third quarter of 2010.