Borealis GeoPower partners with broker firm on financing

Mountain range at Valemount, BC/ Canada (source: flickr/ BC Randonneurs Photo Gallery, creative commons)

Alexander Richter 8 Oct 2015

Canadian developer Borealis Geopower and Sponsor Energy Capital, an energy brokerage firm, announce a collaboration on financing for exploration and development of geothermal resources for power production.

Borealis is currently developing geothermal power projects in Canoe Reach, south of Valemount BC and Lakelse Lake, south of Terrace, BC, with the Kitselas First Nation. We are currently moving forward with financing of our resource confirmation and power project development and we Borealis GeoPower (BGP) and Sponsor Energy Capital (SEC) are pleased to announce their collaboration to finance exploration and development of geothermal resources for power production.

SEC’s approach to project financing is to source funding appropriate for the purpose with requisite returns. SEC proposes to finance the proving of highly prospective geothermal resources for the purpose of power production. BGP has two geothermal projects in development in British Columbia, Canoe Reach and Lakelse, each of which meets the criteria of being highly prospective.

Source: Company release