Nevada Geothermal Power Inc. Reaches Agreement on Transfer of Blue Mountain Geothermal Project (News Release)
Nevada Geothermal Power Inc. (NGP) has announced that the company and funds managed by
EIG Global Energy Partners (EIG), the mezzanine lender for the
Blue Mountain Geothermal Project, have entered into an equity transfer agreement under which NGP will transfer its 100% interest in NGP Blue Mountain HoldCo LLC to Blue Mountain Power, LLC, a company owned by EIG.
NGP will continue as project operator of the Faulkner 1 geothermal power plant and will provide management and administrative services through its operating subsidiary, Nevada Geothermal Operating Company LLC and will receive its normal operating fee under its existing operating agreement, during a cooperative transition period of up to twelve months from the BM HoldCo equity transfer date.
Read More.....
