Glitnir Bank of Iceland has extended a $20M loan to Nevada Geothermal to help ease the cash crunch in the preconstruction phase of the Blue Mountain project. Upon entering the construction phase, the previously announced $100M loan from Morgan Stanley will be used to repay the bridge loan from Glitnir. The near-term financing should help the project move along into the construction phase.

This entry was posted on Wednesday, August 1st, 2007 at 7:20 am and is filed under Business, Geothermal.