Polaris Energy Nicaragua S.A (PENSA) is a subsidiary of Polaris Infrastructure Inc. PENSA operates and owns the San Jacinto-Tizate Geothermal Project, with an installed capacity of 77 MW (72 MW net).
PENSA is one of the largest producers of renewable energy in Nicaragua, and has helped change energy use in Nicaragua.
Please visit the website of our Nicaragua operating subsidiary, PENSA, for further details about the 72MW San Jacinto geothermal project.
The Casita project is located in northwest Nicaragua in the Department of Chinandega. In 2008, through an international bid, Cerro Colorado Power, S.A. (“CCPSA”), a 95% owned subsidiary of Polaris Infrastructure, was awarded the Casita Project Exploration Concession with an area of 100 km2. The contract for the Casita Project Exploration Concession was signed on March 6, 2009.
In July 2011, the Company commenced drilling of the first slim hole well as a step towards proving the Casita resource viability; the slim hole was drilled to a depth of 842 meters with a total loss of circulation of the drilling fluid. The temperature results obtained and the permeability found to date indicate that the location has the characteristics of a commercial resource, and this information was used in converting the exploration concession to an exploitation concession from the Nicaraguan Ministry of Energy and Mines.
In February 2013, the Company was awarded the exploitation concession for a period of 25 years (extended by law in 2014 to 30 years) and was provided a timetable to sign the formal contract, which the Company is currently in the process of negotiating and expects to finalize in 2017.