International Finance Corporation (IFC) will help Ram Power arrange $216 million in debt financing, Reuters reports. IFC has offered to lend up to $40 million and will arrange for the remaining on a syndicated basis.
The proceeds will be used to fund the company’s 72 megawatt geothermal project in Nicaragua. The World Bank arm could offer the renewable energy company an additional $20 million in mezzanine debt or possible equity to the project.
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