{"id":166422,"date":"2010-01-11T15:29:48","date_gmt":"2010-01-11T20:29:48","guid":{"rendered":"http:\/\/greenenergyreporter.com\/?p=5499"},"modified":"2010-01-11T15:29:48","modified_gmt":"2010-01-11T20:29:48","slug":"canadian-developer-set-to-seal-financing-for-nev-geothermal-project-next-month","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/166422","title":{"rendered":"Canadian Developer Set to Seal Financing for Nev. Geothermal Project Next Month"},"content":{"rendered":"

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Nevada Geothermal (NGP), the Vancouver, BC.-based developer of geothermal electric power projects, expects to close a $95 million financing with John Hancock Financial Services next month, an industry source tells GER. <\/span><\/p>\n

NGP plans to tap into part of the facility to refinance a 15-year, $180 million credit facility with a 14 percent interest rate,which it secured<\/a> in September 2008, at the height of the credit crisis, from the\u00a0Trust Company of the West (TCW). The funding will also support NGP’s ongoing development of its Faulkner 1 power plant at its Blue Mountain project in Nevada’s Humboldt County.<\/p>\n

NGP has already repaid TCW $30 million by tapping into the $57.9 million Department of Energy cash grant it scored last November<\/a>.<\/p>\n

The John Hancock credit facility will substantially cut NGP’s funding cost with pricing on that loan set to hover between\u00a05 percent and 7.5 percent. The loan will be backed by a Department of Energy loan guarantee that\u00a0John Hancock is in the process of applying for.<\/p>\n

NGP’s Faulkner 1 came online<\/a> last fall and is slated to produce 40 megawatts of power when it reaches full capacity. The facility is backed by a 20-year power purchase agreement with NV Energy, the state power utility. Officials at John Hancock did not return calls.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Nevada Geothermal (NGP), the Vancouver, BC.-based developer of geothermal electric power projects, expects to close a $95 million financing with John Hancock Financial Services next month, an industry source tells GER. NGP plans to tap into part of the facility to refinance a 15-year, $180 million credit facility with a 14 percent interest rate,which it […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-166422","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/166422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=166422"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/166422\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=166422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=166422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=166422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}