Glitnir Brings Geothermal Energy to India

Investment bank Glitnir is joining forces with Indian energy company The LNJ Bhilwara Group. The two have signed an agreement to develop and build geothermal energy power stations in India and Nepal.

Glitnir provides experience in geothermal energy as well as its experience in financing geothermal development projects. Bhilwara, which has experience in the hydropower industry will act as local developer and manager of the project.

“India is a very exciting market for Glitnir, especially in the energy field,” Glitnir Managing Director of Sustainable Energy Arni Magnusson said. “Given the projected growth of energy demand in India, India needs all sources of energy, especially renewable and green sources of energy like geothermal.”
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