Pan Global today talks with shareholders concerning the 5.7MW small-hydro
plant the company is in the process acquiring in Northern India pursuant to its
staggered acquisition of Regency Yamuna Energy Limited (“RYEL”).
Barring any adverse weather conditions or unforeseen circumstances, the
construction of the project is anticipated to be completed within next 30-45
days.
Upon completion, it is intended that the process will be immediately
started to connect the project to the power grid so that it may begin
commercial operations producing electricity followed by subsequent revenue.
Company management commented, “We look forward to the anticipated
commercial operation of this Project as construction nears completion. We
intend to continue to increase our equity interest in RYEL under our
acquisition agreement with RYEL.”
As previously stated, the company, through its wholly-owned subsidiary,
Pan Asia Infratech, entered into a definitive Stock Purchase Agreement on
October 28, 2013 to acquire 100% of the outstanding shares and convertible debt
of RYEL which is commissioning the project. Further details of the acquisition
agreement are available in the company’s Form 8-K filed with the SEC on October
29, 2013.
Pan Global, through its wholly-owned subsidiary, Pan Asia Infratech, is
focused on developing and supporting environmentally sustainable energy and
infrastructure projects and technologies. Its aim is to invest in green energy
technology and infrastructure around the world. The company nurtures and funds
investments in renewable energy and energy efficiency technology and “green”
projects that comprise new solutions for basic infrastructure.
For more information, visit: www.panglobalcorp.com
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