Fossil
fuels continue to dominate the global electricity supply market, and global
concerns over the environmental and human population risks posed by this heavy
consumption have grown. Nowadays, 68% of the world’s electricity supply is
generated with fossil fuels, according to the International Energy Agency. As a
result, many public and private sector organizations have been looking at clean
energy technologies as alternative sources for electricity generation.
Renewable
energy developer P2 Solar has been promoting clean energy solutions to these
growing global challenges. The company is focused on developing solar
photovoltaic (PV) power and small-hydro projects in countries where renewable
energy policies are highly favorable. P2 Solar has been aggressively moving
forward in its development efforts, as it hopes to develop 150 MWp of
electricity-generating capacity within the next few years.
At
present, P2 Solar holds three clean energy projects in its portfolio: the
British Columbia-based Langley Rooftop Project; and the Rajgarh Mini-Hydro
Project and the Tibba Mini-Hydro Project, both of which are located in Punjab,
India. P2 Solar anticipates when both of its small-hydro projects are fully
operational, they will generate more than $700,000 in annual revenue. As it
continues to make strong progress on these projects, the company is constantly
searching for additional promising opportunities to expand its global
footprint.
In a
recent headline, P2 Solar announced a significant company development in regard
to its Rajgarh project. The company’s wholly owned subsidiary in India inked a
power purchase agreement with a Punjab energy distributor, which was the
culmination of years of due diligence and other company efforts. The purchase
agreement provides a 35-year payment term at an approximate tariff of $0.10
(USD). P2 Solar anticipates the agreement will generate a steady cash flow for
future company initiatives. P2 Solar had previously signed an implementation
agreement with the Punjab Energy Development Agency, Punjab state’s governing
authority on all renewable energy projects, for permission to use the canalled
water.
As global
trends shift more toward renewable energy sources, P2 Solar plans to remain
ahead of the curve, identifying and engaging in development of clean energy
projects for meeting the increasing energy demand. On top of its current
momentum, P2 Solar is buoyed by the insights and expertise of a savvy
management team, of whom its members have over 60 years of collective
professional experience.
For more
information, visit: www.p2solar.com
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