Polaris and Exorka agree to do Kalina in Nicaragua
Steam Flow Test at Polaris’ San Jacinto-Tizate Project
Via CleanTech:
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.
Details of this deal still haven’t been revealed but it seems that it may be a wonderful deal for both parties.
Polaris gets a piece of the action for the kalina cycle that may easily have widespread application far beyond geothermal power.
Rave reviews for a small 2MW kalina geothermal power plant in the small Iceland village of Husavik claim that even the contruction costs of the two-working fluid kalina cycle are lower but that part is dubious. What you get for higher cost is greater efficiency that is particularly meaningful for low enthalpy heat sources.
Exorka is a joint venture that needed to show its stuff and Polaris was kind enough to let them. š
Nice.
Best, Terry
Great comment Terry, thanks for sharing. If you get more detail, please feel free to share either in a comment, or send me a note and I’ll do a follow-up entry.