Glitnir Bank and Geysir Green Energy have jointly invested $18M through a combination shares and warrants. Western Geothermal has been working to raise funds to build its 25MW plant on the site of old PG&E Unit 15 at the Geysers and further develop its Canadian project at South Meager. The $90M price tag on the Geysers project means there is still a significant sum of money to be raised, likely through debt financing like Nevada Geopower arranged with Morgan Stanley.

This entry was posted on Friday, July 27th, 2007 at 10:07 am and is filed under Business, Geothermal.