Denham Capital increases Vulcan investment

In Oregon, Vulcan Power Company announced that an affiliate of Denham Capital has invested $108 million in preferred and common stock of Vulcan. This is the second equity investment in Vulcan by the affiliate and brings its total investment in Vulcan to $166 million. The new investment will allow Vulcan to continue ongoing development of properties representing more than 300 MW of estimated geothermal resources from just half of the company’s total acreage. Vulcan holds a geothermal property portfolio of about 170,000 acres in Nevada, California, Oregon and Arizona and the permitting process for two of its sites is underway.