Gradient Resources mandates new bank for Patua financing
Flow test at project site of Patua, Fenley/ Nevada (source: Gradient Resources)
Alexander Richter
25 Jul 2012
Gradient Resources has mandated Union Bank to lead financing for its Patua geothermal power project in Nevada, replacing earlier lenders BNP Paribas and Dexia.
Having decreased the planned site for its Patua geothermal project in Nevada from initially 60-120 MW to 30 MW back in February this year, the company now announces a change in the team to raise the necessary financing.
The firm has now mandated Union Bank, that is part of the Mitsubishi UFJ financial group, replacing initial orginal lenders BNP Paribas and Dexia Bank.
Source: Project Finance
