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Polaris Geothermal Inc. is a publicly traded, renewable energy company currently developing the San Jacinto Tizate (SJT) geothermal resource in Nicaragua

Polaris GeothermalPolaris Geothermal Inc. is a TSX-listed (GEO) renewable energy company that is currently focused on the development of geothermal energy projects in Latin America. Polaris is focused on geothermal energy because it provides a clean, renewable, indigenous source for electrical power generation. The use of geothermal energy for electricity generation is a mature technology based on more than 50 years operating experience. Through the generation of clean, geothermal power, Polaris also derives incremental income from the sale of Certified Emission Reductions (CERs), or carbon credits. As of April 8th, 2006, Polaris was registered with the United Nations Framework Convention on Climate Change (UNFCCC) as one of the largest carbon credit producers in the world.

To develop its initial project on the San Jacinto Tizate geothermal concession (a US $358 million project), Polaris has assembled a world-class team including Sinclair Knight Merz, one of the world's leading geothermal science and engineering companies.

The San Jacinto Tizate project is the model on which Polaris intends to bring geothermal electricity generation to the forefront of the global energy economy. The company is already looking at new geothermal acquisitions in Chile, Central America and the Caribbean.

The San Jacinto Tizate Geothermal Reservoir

The San Jacinto Tizate geothermal reservoir is located near the city of Leon (Map) about 56 miles northwest of the capital of Managua. Sinclair Knight Mertz (SKM) estimates the mean capacity of the resource area to be 277 MW, with a 90% probability that the resource capacity is greater than 203 MW, making SJT one of the largest geothermal resources being developed in the western hemisphere. The SJT power plant, currently on stream with 10 MW, is producing an EBITDA of $2 million. The end of Phase II, scheduled Q1 2010, will see 72 MW on-stream and a projected EBITDA of $45 million.