Ram Power, Corp. announced that it has successfully completed the previously announced transaction with U.S. Geothermal Inc. for the sale of the Company’s Geysers project for a total of $6.4 million in cash on April 21, 2014. The Company’s subsidiaries included in the acquisition are Western Geopower, Inc., Skyline Geothermal Holdings, Inc., and Etoile Holdings, Inc., which in turn includes all membership interests in Mayacamas Energy LLC and Skyline Geothermal LLC.
“The closing of the transaction with U.S. Geothermal for the sale of our Geysers project shores up the capital requirements for the Company in 2014 as we continue to work with our investment banker on the strategic process for the Company,” said Antony Mitchell, Executive Chairman for Ram Power.
Source: Ram Power
For more information on: Ram Power