Toronto-based renewable energy company Polaris Geothermal International is offering Certified Emissions Reductions (CERs) from a 66 MW geothermal project currently under development in Nicaragua.
“Eighteen months from now, we’ll be producing 160,000 carbon credits on an annual basis. From the beginning of 2010 this will increase to 340,000 per year,” said Polaris chief executive Tom Ogryzlo.
The project already has a 20-year take or pay contract with Nicaraguan distribution subsidiaries of Union Fenosa and already has a 10 MW installation at its San Jacinto concession. Polaris has also been exploring a second concession, Casita, which has an estimated capacity of 137 MW – 200 MW.
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