So back in October of 2015 Graecrest Energy Solutions agreed to finance a project for Dominovas Energy Corp then in April of 2017 they reaffirm that commitment. Things are happening. Things are coming together.
Go DNRG.
Great time to buy the price per share is a bargain.
Graecrest Energy Solutions LLC ("Graecrest") announced today that the Company will provide Dominovas Energy Corporation (OTCQB: DNRG) with financing for their recently announced 18MW hydroelectric project in Lunda Sol, Angola. This power plant will produce in excess of 150,000,000 kilowatt hours (kWh) of electricity per year. Total value of Graecrest and its partner's investment is currently estimated at US$90 million.
In October of 2015, Graecrest agreed to commit a total of $1.2 billion in financing for Dominovas Energy Corporation's energy projects in Africa. The anticipated financing support to Dominovas Energy will be concomitant with specific guarantees and terms to be negotiated by Dominovas Energy with the Republic of Angola and approved by Graecrest. Russ Howell, Graecrest's Principal for Finance and Development, stated, "Angola has long been a country that we have been interested in. We see a tremendous opportunity for growth within their renewable energy sector and this project is a great first step." He went on to say, "We applaud Dominovas Energy's focused and steadfast approach, wherein they are consistent with their desire to primarily engage country-sponsored, bankable and financially viable large scale power projects. The achievement of this significant milestone is a direct result of their determination to succeed, in Angola and across Africa."
Neal Allen, Dominovas Energy's chairman and CEO, added, "I appreciate Graecrest's understanding and support of our methodology and process. Collectively, we recognize the long-term financial benefits of large scale projects, although the acquiring of these projects can seem to be long in coming." He added, "We are looking forward to a timely financial close so that the development process can begin."
