On April 16, 2026, Zanskar, the first AI-native geothermal energy company, announced the closing of $40 million in a Development Capital Facility. Wilson Sonsini Goodrich & Rosati advised Zanskar on the transaction, which is among the first ever structured for early-stage geothermal development. The financing was co-led by Just Climate and Spring Lane Capital, with additional capital committed by Tierra Adentro Growth Capital.

The Development Capital Facility draws on best practices from the renewables and natural resource sectors, establishing a revolving development credit facility designed to accelerate project development across Zanskar’s growing portfolio. The non-recourse facility covers key pre-construction activities, bridging projects to traditional bank project financing, and is structured to upsize to $100 million as Zanskar’s portfolio scales.

The financing transaction strengthens Zanskar’s ability to commercialize its pipeline of naturally occurring geothermal systems and sets a scalable financing precedent for greenfield geothermal as a recognized asset class across the United States.

The Wilson Sonsini team that advised Zanskar on the transaction included Scott Zimmermann, Jason Slagle, Nicole Gambino, Bob O’Connor, Jordana Palgon, and Jenae Sharp.

For more information, please see Zanskar’s news release.