Followers | 99 |
Posts | 8821 |
Boards Moderated | 5 |
Alias Born | 01/11/2003 |
Wednesday, March 09, 2016 9:49:23 AM
VANCOUVER, BRITISH COLUMBIA -- 03/08/16 -- P2 Solar, Inc. (the "Company" or “P2”) (OTCPK: PTOS) is delighted to announce that it has signed term sheets with a London based fund for the equity financing of its three projects (total 20 MW) in India.
The projects under terms include our two hydro projects of total 15 MW, previously disclosed by us, and a new 5 MW solar PV project which management has secured within recent weeks. We are eager to share addition information regarding the new solar PV project in the coming weeks. Of note, all three projects are already completed and operational and generating revenue.
The total equity investment for the three projects is estimated to be US $15 million. The terms provide P2 with a significant ownership position in each of the projects and assign to P2 responsibility for day-to-day operations under a long term management contract.
The projects will also have debt in the form of long term bank loans; two of the three projects already have term debt facilities in place, and we and our London partners are arranging a term debt facility for the third project. We are also working to extend the maturity of the debt on the first two projects beyond the current 8-9 years as well. By increasing debt to the industry-standard 70%, as we plan, we will be able to significantly enhance the rate of return on all the projects. Management is working with two India-based lenders and receipt of the term sheet is expected to move the debt talks forward. Total project debt is estimated to be US $35 million upon closure; combined with the US $15 million in equity investment, the total project value is estimated to be US $ 50 million.
The term sheets require the final completion and acceptance of due diligence by P2 and our London partners. Upon completion of these investments P2 expects to have, in our London partners, a long term funding relationship, which will enable us to confidently bring additional projects into play that will provide for steady and strong growth for the Company.
Raj-Mohinder Gurm, CEO, said, “Our entire team is very excited about the term sheets from our London partners. They wish to develop a portfolio of green energy projects in India and we are able to provide them with several operating projects that will generate revenue immediately, as well projects that remain under development. P2 sees this as a long term funding relationship whereby we can continue bringing projects into P2 with the confidence that we will be able to fund them.”
www.p2solar.com news by subscribing to these newsletters on our website at Follow P2
Or follow us on twitter: @p2solar
Or on Facebook: https://www.facebook.com/p2solar.
Contact Information:
Investor Relations: Bill Robertson
Tel: 778-371-3571
Company Contact:
invest@p2solar.com
life is way too important to take seriously
Recent PTOS News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 02/14/2024 08:57:09 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/12/2024 01:58:57 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/20/2023 09:16:09 PM
- Form 8-K/A - Current report: [Amend] • Edgar (US Regulatory) • 11/15/2023 04:13:32 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/13/2023 05:47:45 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/29/2023 03:07:11 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2023 06:19:41 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 08/08/2023 08:01:09 PM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM