Originally published at Montara Energy Ventures.

Steam Flow Test at Polaris’ San Jacinto-Tizate Project

Toronto’s Polaris Geothermal (TSX: GEO) announced yesterday that it signed a deal with Iceland’s Exorka International to develop and operate projects in Nicaragua.

The two companies plan to swap units, shares and warrants as part of a deal granting Exorka the exclusive right to supply a generation plant and related equipment to Polaris Geothermal until June 30, 2009.

Under the deal, Exorka will supply a turn-key Kalina power plant proposal to Polaris for a power project near Leon, Nicaragua, by January 15, 2008, with an agreement to negotiate in good faith the terms for the plant.

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