Wednesday, May 10, 2017

Nicaragua: New Injection Well Being Drilled at San Jacinto Geothermal Project

Polaris Infrastructure Announces 2017 First Quarter Results

Courtesy Polaris Energy Nicaragua S.A.
Polaris Infrastructure Inc. has reported its financial and operating results for the quarter ended March 31, 2017. 

Comprehensive preventative maintenance was completed on the Unit 4 turbine at the San Jacinto project over the course of three weeks in February 2017. This exercise was completed on schedule and on budget, and leaves the Company well positioned for consistent turbine performance throughout 2017 and 2018, given that the Unit 3 turbine was recently serviced as well, in July 2016. We estimate that downtime associated with turbine maintenance resulted in foregone average power generation of approximately 7 MW (net) in the first quarter of 2017.

The company's wholly-owned operating subsidiary, Polaris Energy Nicaragua S.A. (PENSA), which owns and operates the San Jacinto project, commenced drilling of SJ 11-2 on April 29, 2017. SJ 11-2 will be an injection well, providing important additional injection capacity as well flexibility to integrate a binary unit into the San Jacinto project, which is planned for 2018 installation. PENSA plans to commence drilling of a new projection well in July 2017, after findings from various geotechnical surface studies presently underway, have been incorporated.