Geothermal energy projects are going to be developed in India and Nepal thanks to renewable energy expert Glitnir, a Nordic bank which has teamed up with Bhilwara Group.
They will draw on their experience in financing and advising on geothermal energy projects around the world, the partnership will be a 60:40 one between Glitnir and LNJ Bhilwara Group.
Glitnir will be responsible for raising capital and supplying specialist consultants for projects to build geothermal power plants in India and Nepal. LNJ Bhilwara will bring its large-scale infrastructure and local experience to its 60 per cent share of the partnership.
Geothermal energy is a sustainable and clean energy source because it harnesses heat generated by the earth and is considered virtually inexhaustible. Unlike wind and solar installations, geothermal energy can run 24 hours a day, providing a higher and more reliable power yield.
India has planned for $475 billion of energy investments in the next five years in anticipation of the large energy demands created by India’s fast-growing economy.
Glitnir focuses on geothermal energy as one of three global market niches (the other two are the seafood and offshore supply industries). The investment and corporate bank has formed teams of specialist bankers which operate in 11 countries around the world including China, Scandinavia, the US and the UK.
Visit the Glitnir website for more information on Glitnir and geothermal energy
Note: definitely revisit the glitnerbank website for projects in progress.
No comments:
Post a Comment