Earth Heat Resources is moving closer to obtaining project funding for its Copahue Geothermal power project in Argentina.
The company is seeking up to US$134 million in project finance for the development of the project from the largest funding agency in Latin America, Inter-American Development Bank.
Reflecting the quality of the project; with an offtaker in tow and the large need for power in Argentina, demand for the package of funding has been reported as strong.
Which is a coup for Earth Heat given the prevailing tougher capital raising conditions and the Bankable Feasibility Study has not been completed. Normally funding sources would wait for the results of the BFS before comitting to a project.
Reflecting the quality of the project; with an offtaker in tow and the large need for power in Argentina, demand for the package of funding has been reported as strong.
Which is a coup for Earth Heat given the prevailing tougher capital raising conditions and the Bankable Feasibility Study has not been completed. Normally funding sources would wait for the results of the BFS before comitting to a project.
