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http://www.energycurrent.com/index.php?print=10318

Glitnir CEO Larus Welding stated, "This will encourage prospects for growth in India in the geothermal arena. India is a vast country and we believe there are a number of unexplored geothermal energy resources. These resources and the technology employed contribute to clean, rural-based and cheap energy sources."



Welding noted that Glitnir had successfully implemented a project in China, where expertise and sourced funding for the project was used to heat a district in the Xian Yang province in China.



"We believe similar projects can be developed in India. In addition, Glitnir's strategy is to have a local presence in all the major emerging markets with potential in the Glitnir industry focus. Following the establishment of our presence in China, India is the next logical destination."


Glitnir opens office in India in Second half of 08.
They are known to be placing big bets on Geo Energy in India.