News

GT Energy reports making funding headways for Manchester project

University of Manchester, Oxford Road (source: flickr/ dullhunk, creative commons)
Alexander Richter 28 Jan 2013

News from the UK report that Irish geothermal developer GT Energy is making headways in its fundraising efforts for an initial fundraising goal of $4 million for its geothermal heating project in Manchester, UK.

Initially reported by Bloomberg, UK news have picked up that GT Energy is closer to its fundraising golas for its geothermal project in Manchester.

ThinkGeoEnergy reported earlier about this project in September 2012. The company is raising $4 million for a geothermal heating project in Manchester, UK. The company will partially fund the project that is estimated at a $26 million total cost. GT Energy plans to operate the plant and receive payments from the sales under the terms of the UK Renewable Heat Incentive.

Source: OHS