The company said it terminated the PPA because it was not able to meet the critical milestone schedule outlined in the agreement for development of the Orita project.
Ram Power plans to re-evaluate the economics and feasibility and future resource development plan for the Orita project.
Due to capital constraints, the company said it has chosen to postpone completion of the testing and full evaluation of the project until additional funds are available.
US-based Ram Power is engaged in the business of acquiring, exploring, developing and operating geothermal properties.
