In what can only be described as good news for Polaris Geothermal, the dispute that began in February of this year over the legality of their Nicaraguan geothermal concession has been resolved. Polaris’ Nicaraguan operation, PENSA, retains full control over the concession and plans to continue development on the site in August. This will lead to the eventual operation of a gross 75MW, net 66MW facility.

Based on this news, a nice pop in the share price is in the cards for today. Polaris was most recently trading at $1.15/share.

This entry was posted on Tuesday, June 12th, 2007 at 8:23 am and is filed under Business, Geothermal.