Blue Earth Closes $10 Million Round for Canada Energy Facility

(Bloomberg) — Blue Earth Inc., a renewable-power developer
and provider of energy-efficiency services, arranged $10 million
in debt financing for a combined-heat-and-power plant in Canada.

Jackson Investment Group LLC is buying 12 percent notes
that can be converted to equity at $1 a share, Henderson,
Nevada-based Blue Earth said in a statement Thursday. The bonds
become payable Sept. 10 if not converted.

Blue Earth also is using a combination of debt and equity
to build a combined-heat-and-power plant in Sumter, South
Carolina, that’s expected to begin generating power this
quarter. That facility and the one in Brooks, Alberta, will cost
a total of about $35 million.

Blue Earth holds a 40 percent stake in both power plants.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Will Wade, Robin Saponar

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