Today, Pan Global
issued the third of its five-part series of shareholder updates on growing
market opportunities in India’s green energy industry as well as in-depth
coverage on its small-hydro plant acquisition. The third shareholder update
featured a slideshow presentation of the northern India-based 5.7MW small-hydro
project, known as Project Badyar, which Pan Global has been acquiring on a
staggered basis.
In addition to being
accessible at SlideShare
(http://www.slideshare.net/slideshow/embed_code/33051642), Pan Global will be
posting the presentation on its website (http://www.panglobalcorp.com).
The presentation’s
highlights include:
• Construction of Project Badyar is
scheduled to be completed this spring, or more specifically, within the next 15
to 30 days, barring any adverse weather conditions or other unforeseen
circumstances
• The project is expected to have a
lifespan of 35 years and to operate 24/7/365
• Project Badyar is anticipated to
provide 27,500 MW per year, covering the demand of approximately 100,000 Indian
households.
Pan Global has been
making strong, steady progress in its 100% acquisition of Project Badyar. The
company is acquiring the small-hydro plant from Regency Yamuna Energy Limited,
a private Indian corporation commissioning the project. In a previous
disclosure on October 28, 2013, Pan Global had signified its intent to acquire
all of Regency Yamuna Energy Limited’s outstanding shares and convertible debt
(if not previously converted). Pan Global recently announced progress in the
stock purchase agreement with the Indian corporation and its shareholders,
having completed the third tranche of the acquisition. Pan Global currently
holds 7.51% equity interest in regency Yamuna Energy Limited. The stock
purchase agreement is being done through Pan Global’s wholly owned subsidiary,
Pan Asia Infratech Corp.
Pan Global’s
management commented, “We are extremely proud to share today with our
shareholders more detail of the first small-hydro plant we are working towards
acquiring. RYEL has done a tremendous effort over the past few years in getting
the Project Badyar construction to this stage. Once construction is completed,
the process of getting Project Badyar connected to power grid is intended to
begin immediately so that the plant can commence commercial operations as soon
as possible. We are excited to be involved and look forward to the future and
intend to continue increasing our equity interest in RYEL under our acquisition
agreement with them.”
Company management
elaborated, “We look forward to continuing to provide our shareholders with
additional information and insights into our vision and plans with this
Analysis Series. We believe in the path we have chosen, and remain committed to
our long term goal of building shareholder value.”
Pan Global has been
making steady progress in its other plans as well. The company just received a
comprehensive research and development report for planned northern India-based
hydroponic operations. In February 2014, Pan Global received the preliminary
due diligence report for its second small-hydro acquisition target, a 9.5MW
small-hydro plant also in northern India.
Through its
subsidiary, Pan Global is working to invest in green energy technology and
infrastructure to build an inclusive green economy around the world.
For more information
about Pan Global’s initiatives, please visit: www.panglobalcorp.com
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