Today, P2 Solar
announced its recent completion of certain financing required for the
development of its small-hydro projects in Punjab, India. The company secured
financing for small-hydro project expenses incurred from the past four months,
which totaled $240,000. The financing was composed of $200,000 in convertible
notes with a conversion price to be negotiated at a future date, and a balance
made up of $40,000 in private equity placement.
The funds have been
allocated toward project expenses. Raj-Mohinder Gurm, P2 Solar CEO said, “This
financing demonstrates that key investors have confidence in our projects and
the ability of our team to execute.”
P2 Solar anticipates
that its Punhab small-hydro projects will reach operational status. Currently,
the company is focusing on developing its current project portfolio and on
raising capital. P2 Solar has three projects in its portfolio: the Langley
Rooftop Project in British Columbia; the Rajgarh Mini-hydro Project in Punjab,
India; and the Tibba Mini-hydro Project, which is also located in Punjab,
India.
P2 Solar’s executive
leadership leverages over 60 years of combined experience. In addition to these
areas, P2 Solar is proactively looking at energy project development
opportunities in areas with favorable solar energy regimes, inclusive of Canada
and Eastern Europe.
For more information
about P2 Solar, visit: www.p2solar.com
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