Foley Hoag Advises Spring Lane Capital and Just Climate on Novel $40M (Scalable to $100M) Development Capital Facility for Zanskar Geothermal

"Foley Hoag advised Spring Lane Capital and Just Climate as co-lead lenders on a $40 million development capital facility for Zanskar Geothermal — the first AI-native geothermal company — with Tierra Adentro Growth Capital committing additional capital. The non-recourse, revolving facility (structured to scale to $100 million) is designed for higher‑risk, early‑stage geothermal development and covers pre‑construction activities like test drilling, interconnection studies and site control to bridge projects to traditional construction financing. The deal follows Zanskar’s $115 million Series C earlier this year; Foley Hoag’s advising team was led by Rebecca Rogers."