Western GeoPower Gains Financing for Geothermal Wells in BC

[RenewableEnergyAccess.com] Western GeoPower Corp. has closed on financing in the amount of $6,255,625 with Dundee Securities, the proceeds of which will be used to conduct the flow-testing of recently drilled geothermal wells, its 100 percent owned South Meager Geothermal Project, held under a geothermal lease for the commercial generation of electricity. The project, located 170 kilometers north of Vancouver, BC, is in close proximity to Whistler, the location of the 2010 Winter Olympic Games, and is said to be the most advanced geothermal project in Canada. The renewable energy development company is conducting a feasibility study to confirm the commercial viability of the South Meager Project to support an initial generation of 100 MW of electricity, equivalent to the power consumption of 80,000 households.

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