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PGLO Commencing Site Visits and Inspections at First Small-Hydro Plant Acquisition Target
Pan Global recently reported that it began a series of site visits to and construction inspections of the 5.7MW small-hydro project of which it is making a staggered acquisition. The small-hydro plant is located in northern India and anticipated to be completed within the next 15 to 30 days, barring any unforeseen challenges.
Tractebel Engineering Pvt. Ltd., the global engineering consultancy company which Pan Global has engaged prior for its due diligence, is making the visits and inspections on Pan Global’s behalf. The site visits and inspections are intended as a confirmation that the plant’s construction has been completed at a level satisfactory to Pan Global and for long-term viability. Once the plant’s construction is completed, the plant is slated to be connected to the power grid immediately so commercial operations may commence.
Pan Global has been making a staggered acquisition of the small-hydro plant from Regency Yamuna Energy Limited, an Indian corporation which has been commissioning the plant. As previously disclosed, on October 28, 2013 Pan Global’s subsidiary, Pan Asia Infratech Corp. entered into a stock purchase agreement with Regency Yamuna Energy Limited and the Indian company’s shareholders. According to the agreement, Pan Global is to acquire 100% of Regency Yamuna Energy Limited’s outstanding shares and convertible debt in a staggered acquisition.
Working through its subsidiary, Pan Global is focused on environmentally sustainable energy, infrastructure, and technologies. Its aim is to invest in green energy technology and infrastructure to build an inclusive green economy around the world.
For more information, visit: www.panglobalcorp.com
