In February, the Nicaraguan government communicated that geothermal concessions granted in the country were suspended. In an update to that situation, Polaris Geothermal, which operates and develops geothermal plants in Nicaragua announced they’ve signed a memorandum of understanding (MOU) that should lead to the realization of their 66MW project by 2009.

The market likes this news and Polaris’ stock is up more than 20% today.

This entry was posted on Tuesday, May 15th, 2007 at 12:52 pm and is filed under Business, Geothermal.