Canaccord will help restructure “mezzanine debt and in the recapitalization of the company,” Vancouver-based Nevada Geothermal said today in a statement.
A program to slow temperature declines and increase power production at the company’s 49.5-megawatt Blue Mountain Faulkner 1 plant in Humboldt County, Nevada, began last year and is nearly complete.
The U.S. Energy Department guaranteed 80 percent of the $98.5 million loan that Nevada Geothermal received in 2010. Solyndra LLC (SOLY), a solar-panel maker that filed for bankruptcy in September, got a $535 million guarantee through the same program.
Nevada Geothermal rose 21 percent to 9 Canadian cents in Toronto at 11:25 a.m. It had fallen 91 percent over the last year through Jan. 13.
