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"India is a very exciting market for Glitnir especially in the Energy field given the projected growth of Energy demand in India, India needs all sources of energy especially renewable and green sources of energy like geothermal. We are delighted to partner with LNJ Bhilwara Group who has demonstrated their capacity in efficiently developing power plants in India" says Arni Magnusson, Managing Director of Sustainable Energy in Glitnir.
"We are eager to get started and develop geothermal power plants in India. LNJ Bhilwara Group was the first to develop a 100MW private merchant hydro power plant ahead of schedule and budget in India and has set new levels of realization in Hydropower Business in India. Bhilwara is continuing its growth and diversifying in Green Energy, besides the established leadership in Hydro business. It has set up 4.2 MW Wind Power Plant in Jaisalmmer and is now pursuing development of Geothermal Energy in India and Nepal. Bhilwara Group is developing a large number of Hydro Power plants in Punjab, Himachal Pradesh and Arunachal Pradesh besides in the neighboring countries of Nepal. We are looking forward to the collaboration with Glitnir and develop the first geothermal plant in India" said [Awadh B. Giri], CEO -Power of LNj Bhilwara Group.
The Nordic based Corporate Investment bank and financial services group [Glitnir] offers services including retail, corporate and investment banking, stock trade/brokerage and capital management. Glitnir is a leading niche player in three global industry sectors:seafood/food, sustainable energy (geothermal energy) and offshore service vessels. Glitnir is one of the largest equity brokers in the in the OMX stock exchange in Sweden, Finland, Denmark and Iceland, as well as on the Oslo Stock Exchange in Norway and the Stock Exchange in Moscow in Russia. Glitnir operates in Iceland, Norway, Sweden, Denmark, Finland, the U.K., Luxembourg, Russia, Canada China, and U.S. (Glitnir Capital Corporation). Glitnir is listed on the Icelandic Stock Exchange (GLB). For more information: www.glitnirbank.com