Today before the
opening bell, Pan Global announced that it had begun talks with a geothermal
developer over the prospects of a partnership and investment in a geothermal
power plant in India. The geothermal developer, a key player in India’s
geothermal industry, reports that most of the steps required for bringing the
power plant to construction-ready status have been fulfilled. Thus,
construction of the plant could begin shortly upon the closing of an adequate
financing deal.
Pan Global’s
management commented, “We have previously indicated that one of our focus areas
within the renewable energy sector is geothermal energy production, so we are
very pleased to be able to report about our entry into preliminary discussions
on this front to our shareholders.”
Pan Global is
evaluating this opportunity and its merits. If talks progress, the company will
conduct customary due diligence and negotiations while continuing to provide
updates as its plans develop. This move is Pan Global’s latest move in its bid
to invest in green energy technology and infrastructure to build an inclusive
green economy around the world, acting through its wholly owned subsidiary, Pan
Asia Infratech, Corp.
For more
information, visit: www.panglobalcorp.com
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