LNJ Bhilwara ties up with Nordic firm Glitnir

LNJ Bhilwara Group has signed an agreement with Glitnir, a Nordic investment bank, to collaborate in developing geothermal power plants in India and Nepal.

While Glitnir will bring its expertise in the geothermal field and financial structuring of projects, LNJ Bhilwara will play the role of local developer and manager of the projects.

"Glitnir had successfully implemented a project in China where we brought expertise and funded the project to heat a district in the Xian Yang province in China. We believe similar projects can be developed in India" said Magnus Bjarnason, executive VP(international banking), Glitnir.