Canadian geothermal exploration and development firm Centram Geothermal will concentrate its efforts on the the Joaquina project northeast of Guatemala city in Guatemala, Central America.
In a release last week, Canadian geothermal exploration and development company Centram Geothermal Inc. announced “that it will concentrate its efforts on bringing the Joaquina Project in Guatemala into production.
The Joaquina concession is located about 35 km northeast of Guatemala City and has had several shallow holes drilled in it, all of which are producing steam and/or hot water. This fault-controlled geothermal source has numerous fumaroles and hot springs and surface manifestations of the geothermal source extend for at least one square kilometre. Analysis of geothermal water samples indicate a reservoir temperature in the range of 180°C or higher. An independent report by GeothermEx Inc. recommends a drilling program to define the reservoir size and depth. Centram plans to develop a 5MW power plant at Joaquina and if the reservoir proves to have excess energy, the plant will be expanded. To this end, Centram will bid on a 15 year power purchase agreement in Guatemala’s Open Tender 2012 scheduled for October and is starting the Environmental Impact Assessment of the project.
The Company is also seeking strategic partners for its Baru-Colorado project in Panama, and has determined that it will not renew its Atitlan Concession in Guatemala which expires in September.
“Our team is focussing all its efforts on developing the Joaquina Project,” said John Paterson, Centram’s President and CEO. “Although we can see that Baru-Colorado has huge potential, we realize that a larger company would be better suited to carrying out the test work it deserves” he added.
Centram Geothermal is focusing on the exploration and development of geothermal resources in Central America.”
Source: Company press release via Wire Service