P2 Solar, Inc. (PTOS) Generates Electricity with Small-Hydro Projects

P2 Solar, a development stage company, focuses on constructing hydro and solar power plants in India and Canada. In recent months, the company has targeted a considerable amount of its efforts and resources on building hydro and solar photo voltaic (PV) projects in India. P2 Solar, through its wholly-owned Indian subsidiary, Jagat Energy Private Limited, obtained the rights to two notable hydro projects in India.

One of these renewable energy projects is Project Tibba. P2 Solar acquired the Tibba site last year as a construction-ready project. The project is a 500 KW mini-hydro facility situated immediately downstream from P2′s previously announced Project Rajgarh, near the city of Ludhiana in Punjab, India and on the Sidhwan irrigation canal.

The project will utilize technology similar to Project Rajgarh’s. With a capital budget that is estimated to be about $1.6 million but with low operating costs, Tibba’s EBITDA is estimated to be close to 95%. When fully operational, the Tibba project is expected to generate over $300,000 in annual revenue and exceed P2 Solar′s minimum return requirement, with a projected unleveraged IRR of 17%.

Both projects Tibba and Rajgarh are owned outright by P2 Solar, fully permitted and ready for construction. The company considers these projects a series with both sites being evaluated for the possibility of incorporating solar PV arrays of several megawatts atop the canal space. Construction of Project Tibba will be coordinated with that for Project Rajgarh. Combined, these two mini-hydro facilities are expected to create approximately $800,000 in annual revenues.

P2 Solar’s growth strategy is propelled by its management’s assertive directive to cultivate 150 MWp of electricity-generating capacity in phases over the next few years. In line with this mandate, the company is focused on building up its project portfolio, which includes the Tibba and Rajgarh Projects along with the Langley Rooftop Project in British Columbia, Canada. Another 35 MWp of projects in India could be contracted in short order.

Backed by an executive leadership with over 60 years of combined experience, P2 Solar continues to build upon and expand its existing projects while seeking out development opportunities in other regions with favorable solar energy administrations. The company is already performing due diligence on some additional opportunities, including other hybrid mini-hydro/solar PV projects and rooftop projects in India.

For more information, visit www.p2solar.com

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