Ram Power has formed a Mergers and Acquisitions Committee to explore and evaluate a broad range of strategic alternatives for the Company to enhance shareholder value.
Highlights:
- The San Jacinto-Tizate Power Plant generated 94,959 (net) MWh resulting in revenue of $10.7 million for the quarter ended March 31, 2014 (a decrease of 10% over 2013) and EBITDA (as defined below) of $7.5 million in first quarter 2014 compared to revenue of $11.9 million and EBITDA of $7.9 million in first quarter 2013;
- The company commenced the 30-day stabilization period of the resource field for the San Jacinto project on April 18, 2014. Following the conclusion of the 30-day stabilization period expected on May 18th, the company will conduct a 7-day performance test to determine the net operating output of the Project which is expected to conclude on May 25th.
- In April 2014, the company successfully completed the previously announced transaction with U.S. Geothermal Inc. for the sale of the Geysers project for a total of $6.4 million in cash.
Read More......
