Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
http://www.businesstalkradio.net/weekday_host/Archives/bbs.shtml
ARCHIVES Tues.Sept. 8 hour 1
It should be noted that the Government of Pakistan has never failed to pay an obligation backed with its Sovereign Guarantee.
It should be noted that the Government of Pakistan has never failed to pay an obligation backed with its Sovereign Guarantee.
http://www.businesstalkradio.net/weekday_host/Archives/bbs.shtml
ARCHIVES Tues.Sept. 8 hour 1
John Pentony on buisness talk radio yesterday,he talks about Bergamo.
must listen
around 90 days
Hillard Herzog, President and CEO of Bergamo, commented, "I am very pleased that we can get started with these additional projects. I do want to mention that the initial funds will also be used to make Bergamo more transparent. We will start the process to make Bergamo Acquisition Corp a fully reporting Company and move to the OTC Bulletin Board or higher."
Bergamo will be drawing down the first $10 million USD this week.
Breaking News BGMO: Bergamo Acquisitions Corp. Announces $100 Million USD Funding through The Bank of India
Written by John Pentony on September 8, 2009
Dear Members: News out on BGMO... Here it is: Bergamo Acquisitions Corp. Announces $100 Million USD Funding through The Bank of India 2009 LAS VEGAS--(BUSINESS WIRE)--Bergamo Acquisition Corp. (OTC Pink Sheets: BGMO - News)
The big picture.
$10 by yearend
$20 by next summer
This funding is separate and apart from the Pakistani Energy projects which were announced last week with the $1 billion USD equity investment. Speaking about those projects, Bergamo Executive Vice President and Director, Sohail Parekh, said, "I am excited with the speedy progress of our energy projects and the encouragement by the global financial markets in order to bring this mega project to attainment, which will improve the standard of living for Pakistan and its people."
$2.00 by Friday
GLTA
Reality breakout comming
$1 billion dollars
50 million shares outstanding
no dilution to the stock with financing, equals
$20 dollars a share, simple math.
mainstream media comming soon
Add a $100 million dollar domestic financing.
Add a aquisition in the financial service.
The next two weeks are going to be very exciting.
GLTA
Reality breakout comming
$1 billion dollars
50 million shares outstanding
no dilution to the stock with financing, equals
$20 dollars a share, simple math.
mainstream media comming soon
Add a $100 million dollar domestic financing.
Add a aquisition in the financial service.
The next two weeks are going to be very exciting.
GLTA
Buisness Recorder in Pakistan is the equivalent to wall street journal in the USA.
First clean coal plant likely by November 2010
ALI KHIZAR ASLAM AND AYESHA NADEEM RAHMAN
ARTICLE (August 10 2009): Pakistan will have its first clean coal power generation facility by the end of next year, said Hillard Herzog, the CEO of a US-based energy firm Bergamo E&A in an interview with BR Research of Business Recorder. "Ours is a 544 megawatt clean coal energy project to be set up in Jamshoro, under the terms of your government's rental (power) programme" said Herzog, who oversees the firm's energy business in Pakistan.
"It will be the first coal sequestration project in Pakistan implying clean coal energy with no emission, no carbon footprint. All emissions will be pumped back into the ground and used for industrial purposes". The $420 million project, which will use coal obtained from Lakhra, is estimated to take around 12 to 14 months for completion. "The project should be underway by October - November 2010," said Herzog.
Bergamo E&A - a publicly traded company in the US - has already signed two Letter of Intents; one for coal power generation plant signed with Pepco and the other LoI signed with the Alternative Energy Development Board for a renewable solar energy project. The firm plans to set up a manufacturing plant that would employ 9,000 to 10,000 local workers to make solar parabolic structures to be used for the production of renewable energy. Please turn to page 8 for full text of Hillard Herzog's interview.
At the end of last month, Bergamo E&A signed two LoIs with the government bodies to invest in coal and alternative energy production in the country. In this interview, CEO of Bergamo, Hillard Herzog, shows his optimism on clean coal energy generation and his excitement concerning solar energy based power production in the country. The following are excerpts from the interview.
BR Research: Your firm is currently undertaking two projects in the country; one coal and the other solar power. Can you give us some details about your coal project for starters?
Hillard Herzog: Ours is a 544-megawatt clean coal energy project to be set up in Jamshoro, under the terms of your government's rental program. The first LoI has been signed with Pepco and the terms and conditions are at finalisation stage. The project involves 420 million dollars of investment. This amount covers the equipment, the installation and project costs to bring the project to completion, but it does not include cost of running the plant for five years. The project will produce facility of 544MW (per hour) production in 12 months. The facility is a little cheaper than thermal energy.
BRR: Have the feasibility studies been completed? HH: All feasibility studies, technical requirements with regard to the project have been completed. The project is ready to go forward. Our project will be the first coal sequestration project in Pakistan implying clean coal energy with no emission, no carbon footprint. All emissions will be pumped back into the ground and used for industrial purposes.
BRR: Are you going to import coal or use local Thar coal?
HH: The coal is local, but not from Thar. It's Lakhra coal.
BRR: What is the difference between Thar and Lakhra coal?
HH: Lakhra coal contents are quite different from Thar coal. The basic content of the coal will generate the necessary BTUs without the addition of any foreign coal. The plant would use 300 tones/day of local coal, mined from a designated area (800 acres) that would be sufficient for 5 years.
BRR: Does this coal have high moisture content?
HH: The coal used does not have high moisture content; it has high limestone content. The by-product of the coal is the ingredients that would produce cement blocks. It would produce slack cement for cement blocks as a by-product.
BRR: How long will it take to produce energy?
HH: 12-14 months are required to generate energy after the signing of agreement, which is likely to be signed in the next 30 days. The project should be underway by October-November 2010.
BRR: The problem with thermal projects is its high running costs and imported furnace oil. Here, the coal is indigenous and cheaper. So what would be the running cost and price available to the consumer?
HH: The price we will discuss with NEPRA includes our basic cost of 5 cents per kilowatt and the maximum would be around 9 cents per kilowatt (Rs 7.5 per kilowatt). So, finalised price would be roughly around 9 cents. It would be relatively cheaper than other rental plants.
BRR: So the project will run from 2011 to 2015. And would the cost increase?
HH: No, it has the coal pass through; the coal is based on a specific price so the coal price is fixed. And we've included that cost into the 9 cents. Our cost includes operations, maintenance and repair, whatever has to be done.
BRR: How much coal will be used?
HH: 300 tons per day of coal will be used to run this project.
BRR: And does your company have 100 percent investment in this project?
HH: The government of Pakistan is involved in the project only as a result of the rental program and we're in conformity with the rental program. The government is giving a 14 percent advance which and a guarantee to purchase and pay for the power. That 14 percent is against the sale of the energy. We should produce about 200 million dollars of revenue a year and the government is giving 14 percent of the gross revenue for five years. And that's really a loan; we have to pay it back. Each year we pay back one fifth.
BRR: Do you have plans to set up more coal-based projects in Pakistan?
HH: No, we don't. Although, this project is for five years, the plant can be used for 20 years. Hence, anyone can use this plant for remaining 15 years as a normal IPP.
BRR: Let's talk about your solar power project now?
HH: Yes, solar power technology is an exciting development. Our company develops technology that uses solar power to produce energy. The difference between our technology and the older photovoltaic technology is that photovoltaic requires minimum of 7 to 8 acres per megawatt. We have developed a technology of a self-contained units of 2.5MW each. Furthermore, our cost runs roughly 40 percent of the costs of current photovoltaic.
Your government is interested in purchasing solar power based on a 15cents per kilowatt price. In this regard, we have become the first renewable energy project and our set up would be allowed to connect to the national grid. To produce 50MW of energy using photovoltaic required about 300 million dollars of investment. The same 50 MW, when produced with our technology, will cost about 140-150 million dollars.
Second, the current technology in photovoltaic is not running 24/7, you can't store the energy. We have the capacity to store energy that's created during the day. Pakistan has roughly 300 sun energy days per year. That's a very high count.
Thirdly, and very importantly, we are going to build the first manufacturing facility in Pakistan to actually construct the parabolic structures that are necessary to produce solar energy. The plant will employ 9,000-10,000 people. Some of our people will assist in building and training. At the same time, we'll be importing smaller amounts of solar facilities, in 2.5MW blocks to help jump start energy production. We have decided to install two 2.5 MW units of solar power at Larkana as a model of our first installation.
And if I may add, for me, personally, the excitement has been in what our project can do for you. The name of our project has been; "Pakistan: The Solar Capital of the World". My feeling is that you have the ingredients, we have the technology, we have the investment, we have everything that is necessary to build a facility that's required to build a solar product that you need desperately. For the government, the first priority is that everything that is produced in this facility is used in Pakistan.
BRR: How much area is required for the project?
HH: 4 acres for 2.5MW at the cost of $8 mn.
BRR: What do you think will be the life of this project?
HH: Well, we hope that the life of this project will be well beyond the twenty-year period. The investment in that structure is close to 500 million dollars including the building, the equipment, the training, the structure, everything. Once the deal is signed, that structure will be up and running within 12 to 14 months and we can produce the parabolic structures. Once we do that, we will able to quickly expand the solar megawatt production. The first goal we have in the first 12 months after the plant is open is 500MW of solar. We can produce 500MW of solar at 15 cents a kilowatt at our cost, this is a gigantic step.
BRR: So 14 months are required to finish the plant. How long would it take to produce electricity out of it?
HH: Without waiting for the factory to be set up we can start producing electricity in approximately 6 months. The first 5MW and from that point onwards, depending upon what our people see when they come over here, we can as fast as we can, in producing as much MW as possible.
BRR: Why should one go for solar energy when it's more expensive?
HH: Because it's renewable. In order to generate the amount of megawatt capacity that you need and the investment required, if you don't get off fossil fuels you will not generate sufficient energy.
So solar energy may not be economically viable in the short term but if we look at the long term, with the oil reserves depleting, it would be beneficial. So this short term high cost is just a stepping stone to produce solar energy in Pakistan. And this eliminates the need for fossil fuels.
BRR: How far have you negotiated with the government? When would the final deal be signed?
HH: We have signed the first LoI. The final deal would be signed by the end of August.
BRR: How much energy will be produced by your solar project?
HH: For initial 12-14 months it will produce 500 MW. When the factory will complete, we hope the government to commit 2,000 MW.
BRR: Who are you signing with, the Government of Sindh, the Government of Pakistan or the Ministry of Water and Power?
HH: We are signing with PEPCO. PEPCO has issued us LoI for coal and Alternative Energy Board has issued us the LoI for solar.
BRR: How optimistic are you that this project will be successful in Pakistan?
HH: I have absolutely devoted the last 2 years of my life to bring this to Pakistan. I am confident that we can do this.
Copyright Business Recorder, 2009
Buisness Recorder, The most respected news agency in Pakistan.
Sindh energy, textile sectors: US firm keen to invest $1.5 billion
RECORDER REPORT
KARACHI (July 18 2009): An American firm has shown interest in investing at least $1.5 billion in the textile and energy sectors in Sindh. In this regard, a delegation of M/s Burgamo E&A, led by its Chief Executive Officer Hillord Herzorig, called on Sindh Chief Minister Qaim Ali Shah at Chief Minister House on Friday.
The two sides identified three energy projects and suggested that 550MW electricity would be generated from Lakhra Coal fields. Agreeing to set up at least two solar energy factories of 50MW each in the province, it was decided that the first unit would be set up in Larkana.
The meeting also decided that through LED Lighting project the province would be able to run the streetlights on solar energy and Internal Lights on 20 percent electricity. The project would create at least 11,000 jobs, it was observed. The chief minister welcomed the American delegation and assured his government's all-out support to investors. Suhail Parekh, Chairman of the Board, Jan Muhammad Bhatti, Rocklin Herzorig, Saleem Chamdya, Haseeb Fatani and others were also present.
Copyright Business Recorder, 2009
Bergamo E&A has engaged Salim Chamdia, the former Chairman of The Karachi Stock Exchange, to assist Bergamo in its financial undertakings in Pakistan. Mr. Chamdia has been named a Vice President and a Director of Bergamo E&A.
This came out in the radio interview yesterday.
Bergamo has some heavy hitters involved,this is going to get very exciting in the comming weeks.
Sohail Parekh, the Chairman and Managing Director of Bergamo E & A Corporation would like to place on the record the cooperation and assistance the company received from the Government of Pakistan. The delegation on behalf of the Government of Pakistan included the President of Pakistan Mr. Asif Ali Zardari, Sindh Chief Minister Qaim Ali Shah, Raja Pervaiz Ashraf, Federal Minister for Water and Power, Waqar Ahmed Khan, the Federal Minister for Investments and Mr. Tariq Puri, Federal Secretary, Board of Investments.
Big News next Tuesday or Wednesday $100 million dollar domestic financing,
THIS THING IS GOING TO BE HUGE !!!!!!!!!!!
BERGAMOOOOOOOO BOOOOOOO YA
Tha radio show is picked up in 170 cities in the US.
Including fox buisness.
On Friday, September 4, 2009 at 1:40 PM Pacific Time Mr. Herzog will also appear live on "The Big Biz Show" with Sully on the Business Talk Radio Network. To find out more and to listen live, please visit: http://www.bigbizshow.com.
look at the right time pacific time
On Friday, September 4, 2009 at 1:40 PM Pacific Time Mr. Herzog will also appear live on "The Big Biz Show" with Sully on the Business Talk Radio Network. To find out more and to listen live, please visit: http://www.bigbizshow.com.
Reality breakout comming
$1 billion dollars
50 million shares outstanding
no dilution to the stock with financing, equals
$20 dollars a share, simple math.
mainstream media comming soon
GLTA
Huge week comming next week
looking for $2-$3 bucks on big news.
breakout today
Reality breakout comming
$1 billion dollars
50 million shares outstanding
no dilution to the stock with financing, equals
$20 dollars a share, simple math.
mainstream media comming soon
GLTA
On Friday, September 4, 2009 at 1:40 PM Pacific Time Mr. Herzog will also appear live on "The Big Biz Show" with Sully on the Business Talk Radio Network. To find out more and to listen live, please visit: http://www.bigbizshow.com.
Positive Outlook for Power in Pakistan:
· An adequate power supply necessary to achieve sustainable economic growth. Presently, only 65-70% of the 162 million Pakistani people have access to electricity. The government has made it a priority to provide electrical access to the entire population.
· Electrical demand has outstripped supply of electricity in Pakistan. The country is currently faces power shortages of approximately 2500 – 3,000 MW. It is expected that demand will exceed supply by about 5,500 MW in the year 2010. The present electricity demand-supply gap, coupled with consistent growth in demand (6-7% per annum), indicates the fundamental need for enhancing the country’s power generation capability.
· Sixteen Independent Power Producers (IPPs) operate in Pakistan including world-renowned power sector corporations such as Siemens, General Electric, AES, and International Power.
· The National Electric Power Regulatory Authority (NEPRA) has been created to regulate the Pakistan’s power sector. Considerable progress has been made by NEPRA toward the development of the regulatory management and future market design for the power sector. All generation, transmission, and distribution companies are now licensees of NEPRA, and abide by the rules and regulations created by NEPRA regulators to support reliable and efficient power sector production.
· Approximately ten Independent Power Producers with a capacity of 2,200 MW have achieved a Financial Close status and initiated project construction after receiving tariff approval from NEPRA. These Independent Power Producers are sponsored by both local and foreign investors.
· Approximately 40% of the country’s generation capacity is in the private sector, and another 2,200 MW Independent Power Producers Plants are under construction. The Government of Pakistan has reiterated its commitment to increase private sector participation in the power production industry. Consequently, major divestments of public sector units have been made in various sectors.
· One-Window Facility and Investor-Friendly Policy PPIB – with a successful track-record of attracting FDI of over US$ 4.5 Billion in the last decade or so – provides a one-window facility for the processing of private power generation projects above 50 MW. The Policy for Power Generation Projects, 2002 is an investor-friendly policy that offers an attractive set of fiscal and financial incentives to the private sector. The Policy provides a balanced risk profile for the investors, lenders, and government agencies.
· The Government of Pakistan guarantees the performance obligations of the power purchaser and the provinces and provides protection to sponsors and lenders should the project be terminated.
· Typically, a long-term tariff of 25 – 30 years is contracted with the power purchaser which minimizes Independent Power Producers’ market risk for in terms of output. The projects are expected to earn a stable return on investment.
· Standardized and tested agreements – namely, the Implementation Agreement (IA), the Power Purchase Agreement (PPA), the Fuel Supply Agreement (FSA). – are known prior to final agreement.
· Any variation in price of fuel is to be passed on to the power purchaser. Similarly, any additional taxation over and above the Tariff assumptions is likely to be passed on to the power purchaser.
· To cover the risk of exchange rate variations, the various tariff components are indexed for variation in the Pak Rupee and USD exchange rates.
· The Pakistani Government guarantees protection against any change in duties and taxes, and against specified “political risks”.
· Exemption from income taxation, including turnover rate tax and withholding tax on import, is available to private power generation projects.
· There is an identified hydropower potential of over 40,000 MW, and availability of abundant indigenous coal resources in the country.
· The Thar lignite reserves in the Province of Sindh are estimated to be around 175 billion tons.
· Good quality and cost-effective with technical training is available in Pakistan
· The lower risk profile and the government guarantee for the power purchaser and the provinces makes financing attractive to lenders.
According to Pakistan Economy Watch the coal deposits in Thar can change the fate of the country if utilized in a proper way. It can save oil import bill, reduce unemployment and help strengthen economy, rupee and FOREX stocks.
Dr Murtaza Mughal president of Pakistan Economy Watch in a statement said that 185 billion tonnes of coal worth USD 25 trillion can not only cater the electricity requirements of the country for next 100 years but also save almost four billion dollars in staggering oil import bill.
BERGAMO’S CLEAN AND SUSTAINABLE ENERGY PLAN FOR PAKISTAN
Bergamo has focused on Pakistan’s natural resources to provide sustainable energy projects. Pakistan has two sources of energy in abundance: low sulfur lignite coal and sun. With limited oil and natural gas reserves Bergamo E&A has focused on harnessing the natural and environmentally acceptable energy resources of Pakistan: coal and solar energy.
Bergamo has reached agreements with the Pakistani government to build a low sulfur coal fueled energy plant in the Thar Desert of Pakistan where one of the largest coal fields in the world is located. These forward-looking efforts will maximize the value of Pakistan’s natural and abundant energy resources and minimize the impact on the environment.
Carbon Sequestration Power Plant: The coal of the Thar desert is principally of low sulfur and low ash which will support the low polluting coal fueled energy plant of Bergamo . This 544 MW plant will be built with the most technologically advanced and environmentally friendly methods of power generation: Carbon Sequestration. Pakistan has minimal oil reserves and declining gas reserves. Harnessing the low sulfur coal of the Thar desert and the sun’s energy is a natural solution for the country.
http://www.arifhabibbank.com/
Bergamos bank in Pakistan
Positive Outlook for Power in Pakistan:
· An adequate power supply necessary to achieve sustainable economic growth. Presently, only 65-70% of the 162 million Pakistani people have access to electricity. The government has made it a priority to provide electrical access to the entire population.
· Electrical demand has outstripped supply of electricity in Pakistan. The country is currently faces power shortages of approximately 2500 – 3,000 MW. It is expected that demand will exceed supply by about 5,500 MW in the year 2010. The present electricity demand-supply gap, coupled with consistent growth in demand (6-7% per annum), indicates the fundamental need for enhancing the country’s power generation capability.
· Sixteen Independent Power Producers (IPPs) operate in Pakistan including world-renowned power sector corporations such as Siemens, General Electric, AES, and International Power.
· The National Electric Power Regulatory Authority (NEPRA) has been created to regulate the Pakistan’s power sector. Considerable progress has been made by NEPRA toward the development of the regulatory management and future market design for the power sector. All generation, transmission, and distribution companies are now licensees of NEPRA, and abide by the rules and regulations created by NEPRA regulators to support reliable and efficient power sector production.
· Approximately ten Independent Power Producers with a capacity of 2,200 MW have achieved a Financial Close status and initiated project construction after receiving tariff approval from NEPRA. These Independent Power Producers are sponsored by both local and foreign investors.
· Approximately 40% of the country’s generation capacity is in the private sector, and another 2,200 MW Independent Power Producers Plants are under construction. The Government of Pakistan has reiterated its commitment to increase private sector participation in the power production industry. Consequently, major divestments of public sector units have been made in various sectors.
· One-Window Facility and Investor-Friendly Policy PPIB – with a successful track-record of attracting FDI of over US$ 4.5 Billion in the last decade or so – provides a one-window facility for the processing of private power generation projects above 50 MW. The Policy for Power Generation Projects, 2002 is an investor-friendly policy that offers an attractive set of fiscal and financial incentives to the private sector. The Policy provides a balanced risk profile for the investors, lenders, and government agencies.
· The Government of Pakistan guarantees the performance obligations of the power purchaser and the provinces and provides protection to sponsors and lenders should the project be terminated.
· Typically, a long-term tariff of 25 – 30 years is contracted with the power purchaser which minimizes Independent Power Producers’ market risk for in terms of output. The projects are expected to earn a stable return on investment.
· Standardized and tested agreements – namely, the Implementation Agreement (IA), the Power Purchase Agreement (PPA), the Fuel Supply Agreement (FSA). – are known prior to final agreement.
· Any variation in price of fuel is to be passed on to the power purchaser. Similarly, any additional taxation over and above the Tariff assumptions is likely to be passed on to the power purchaser.
· To cover the risk of exchange rate variations, the various tariff components are indexed for variation in the Pak Rupee and USD exchange rates.
· The Pakistani Government guarantees protection against any change in duties and taxes, and against specified “political risks”.
· Exemption from income taxation, including turnover rate tax and withholding tax on import, is available to private power generation projects.
· There is an identified hydropower potential of over 40,000 MW, and availability of abundant indigenous coal resources in the country.
· The Thar lignite reserves in the Province of Sindh are estimated to be around 175 billion tons.
· Good quality and cost-effective with technical training is available in Pakistan
· The lower risk profile and the government guarantee for the power purchaser and the provinces makes financing attractive to lenders.
Positive Outlook for Power in Pakistan:
· An adequate power supply necessary to achieve sustainable economic growth. Presently, only 65-70% of the 162 million Pakistani people have access to electricity. The government has made it a priority to provide electrical access to the entire population.
· Electrical demand has outstripped supply of electricity in Pakistan. The country is currently faces power shortages of approximately 2500 – 3,000 MW. It is expected that demand will exceed supply by about 5,500 MW in the year 2010. The present electricity demand-supply gap, coupled with consistent growth in demand (6-7% per annum), indicates the fundamental need for enhancing the country’s power generation capability.
· Sixteen Independent Power Producers (IPPs) operate in Pakistan including world-renowned power sector corporations such as Siemens, General Electric, AES, and International Power.
· The National Electric Power Regulatory Authority (NEPRA) has been created to regulate the Pakistan’s power sector. Considerable progress has been made by NEPRA toward the development of the regulatory management and future market design for the power sector. All generation, transmission, and distribution companies are now licensees of NEPRA, and abide by the rules and regulations created by NEPRA regulators to support reliable and efficient power sector production.
· Approximately ten Independent Power Producers with a capacity of 2,200 MW have achieved a Financial Close status and initiated project construction after receiving tariff approval from NEPRA. These Independent Power Producers are sponsored by both local and foreign investors.
· Approximately 40% of the country’s generation capacity is in the private sector, and another 2,200 MW Independent Power Producers Plants are under construction. The Government of Pakistan has reiterated its commitment to increase private sector participation in the power production industry. Consequently, major divestments of public sector units have been made in various sectors.
· One-Window Facility and Investor-Friendly Policy PPIB – with a successful track-record of attracting FDI of over US$ 4.5 Billion in the last decade or so – provides a one-window facility for the processing of private power generation projects above 50 MW. The Policy for Power Generation Projects, 2002 is an investor-friendly policy that offers an attractive set of fiscal and financial incentives to the private sector. The Policy provides a balanced risk profile for the investors, lenders, and government agencies.
· The Government of Pakistan guarantees the performance obligations of the power purchaser and the provinces and provides protection to sponsors and lenders should the project be terminated.
· Typically, a long-term tariff of 25 – 30 years is contracted with the power purchaser which minimizes Independent Power Producers’ market risk for in terms of output. The projects are expected to earn a stable return on investment.
· Standardized and tested agreements – namely, the Implementation Agreement (IA), the Power Purchase Agreement (PPA), the Fuel Supply Agreement (FSA). – are known prior to final agreement.
· Any variation in price of fuel is to be passed on to the power purchaser. Similarly, any additional taxation over and above the Tariff assumptions is likely to be passed on to the power purchaser.
· To cover the risk of exchange rate variations, the various tariff components are indexed for variation in the Pak Rupee and USD exchange rates.
· The Pakistani Government guarantees protection against any change in duties and taxes, and against specified “political risks”.
· Exemption from income taxation, including turnover rate tax and withholding tax on import, is available to private power generation projects.
· There is an identified hydropower potential of over 40,000 MW, and availability of abundant indigenous coal resources in the country.
· The Thar lignite reserves in the Province of Sindh are estimated to be around 175 billion tons.
· Good quality and cost-effective with technical training is available in Pakistan
· The lower risk profile and the government guarantee for the power purchaser and the provinces makes financing attractive to lenders.
Positive Outlook for Power in Pakistan:
· An adequate power supply necessary to achieve sustainable economic growth. Presently, only 65-70% of the 162 million Pakistani people have access to electricity. The government has made it a priority to provide electrical access to the entire population.
· Electrical demand has outstripped supply of electricity in Pakistan. The country is currently faces power shortages of approximately 2500 – 3,000 MW. It is expected that demand will exceed supply by about 5,500 MW in the year 2010. The present electricity demand-supply gap, coupled with consistent growth in demand (6-7% per annum), indicates the fundamental need for enhancing the country’s power generation capability.
· Sixteen Independent Power Producers (IPPs) operate in Pakistan including world-renowned power sector corporations such as Siemens, General Electric, AES, and International Power.
· The National Electric Power Regulatory Authority (NEPRA) has been created to regulate the Pakistan’s power sector. Considerable progress has been made by NEPRA toward the development of the regulatory management and future market design for the power sector. All generation, transmission, and distribution companies are now licensees of NEPRA, and abide by the rules and regulations created by NEPRA regulators to support reliable and efficient power sector production.
· Approximately ten Independent Power Producers with a capacity of 2,200 MW have achieved a Financial Close status and initiated project construction after receiving tariff approval from NEPRA. These Independent Power Producers are sponsored by both local and foreign investors.
· Approximately 40% of the country’s generation capacity is in the private sector, and another 2,200 MW Independent Power Producers Plants are under construction. The Government of Pakistan has reiterated its commitment to increase private sector participation in the power production industry. Consequently, major divestments of public sector units have been made in various sectors.
· One-Window Facility and Investor-Friendly Policy PPIB – with a successful track-record of attracting FDI of over US$ 4.5 Billion in the last decade or so – provides a one-window facility for the processing of private power generation projects above 50 MW. The Policy for Power Generation Projects, 2002 is an investor-friendly policy that offers an attractive set of fiscal and financial incentives to the private sector. The Policy provides a balanced risk profile for the investors, lenders, and government agencies.
· The Government of Pakistan guarantees the performance obligations of the power purchaser and the provinces and provides protection to sponsors and lenders should the project be terminated.
· Typically, a long-term tariff of 25 – 30 years is contracted with the power purchaser which minimizes Independent Power Producers’ market risk for in terms of output. The projects are expected to earn a stable return on investment.
· Standardized and tested agreements – namely, the Implementation Agreement (IA), the Power Purchase Agreement (PPA), the Fuel Supply Agreement (FSA). – are known prior to final agreement.
· Any variation in price of fuel is to be passed on to the power purchaser. Similarly, any additional taxation over and above the Tariff assumptions is likely to be passed on to the power purchaser.
· To cover the risk of exchange rate variations, the various tariff components are indexed for variation in the Pak Rupee and USD exchange rates.
· The Pakistani Government guarantees protection against any change in duties and taxes, and against specified “political risks”.
· Exemption from income taxation, including turnover rate tax and withholding tax on import, is available to private power generation projects.
· There is an identified hydropower potential of over 40,000 MW, and availability of abundant indigenous coal resources in the country.
· The Thar lignite reserves in the Province of Sindh are estimated to be around 175 billion tons.
· Good quality and cost-effective with technical training is available in Pakistan
· The lower risk profile and the government guarantee for the power purchaser and the provinces makes financing attractive to lenders.
Positive Outlook for Power in Pakistan:
· An adequate power supply necessary to achieve sustainable economic growth. Presently, only 65-70% of the 162 million Pakistani people have access to electricity. The government has made it a priority to provide electrical access to the entire population.
· Electrical demand has outstripped supply of electricity in Pakistan. The country is currently faces power shortages of approximately 2500 – 3,000 MW. It is expected that demand will exceed supply by about 5,500 MW in the year 2010. The present electricity demand-supply gap, coupled with consistent growth in demand (6-7% per annum), indicates the fundamental need for enhancing the country’s power generation capability.
· Sixteen Independent Power Producers (IPPs) operate in Pakistan including world-renowned power sector corporations such as Siemens, General Electric, AES, and International Power.
· The National Electric Power Regulatory Authority (NEPRA) has been created to regulate the Pakistan’s power sector. Considerable progress has been made by NEPRA toward the development of the regulatory management and future market design for the power sector. All generation, transmission, and distribution companies are now licensees of NEPRA, and abide by the rules and regulations created by NEPRA regulators to support reliable and efficient power sector production.
· Approximately ten Independent Power Producers with a capacity of 2,200 MW have achieved a Financial Close status and initiated project construction after receiving tariff approval from NEPRA. These Independent Power Producers are sponsored by both local and foreign investors.
· Approximately 40% of the country’s generation capacity is in the private sector, and another 2,200 MW Independent Power Producers Plants are under construction. The Government of Pakistan has reiterated its commitment to increase private sector participation in the power production industry. Consequently, major divestments of public sector units have been made in various sectors.
· One-Window Facility and Investor-Friendly Policy PPIB – with a successful track-record of attracting FDI of over US$ 4.5 Billion in the last decade or so – provides a one-window facility for the processing of private power generation projects above 50 MW. The Policy for Power Generation Projects, 2002 is an investor-friendly policy that offers an attractive set of fiscal and financial incentives to the private sector. The Policy provides a balanced risk profile for the investors, lenders, and government agencies.
· The Government of Pakistan guarantees the performance obligations of the power purchaser and the provinces and provides protection to sponsors and lenders should the project be terminated.
· Typically, a long-term tariff of 25 – 30 years is contracted with the power purchaser which minimizes Independent Power Producers’ market risk for in terms of output. The projects are expected to earn a stable return on investment.
· Standardized and tested agreements – namely, the Implementation Agreement (IA), the Power Purchase Agreement (PPA), the Fuel Supply Agreement (FSA). – are known prior to final agreement.
· Any variation in price of fuel is to be passed on to the power purchaser. Similarly, any additional taxation over and above the Tariff assumptions is likely to be passed on to the power purchaser.
· To cover the risk of exchange rate variations, the various tariff components are indexed for variation in the Pak Rupee and USD exchange rates.
· The Pakistani Government guarantees protection against any change in duties and taxes, and against specified “political risks”.
· Exemption from income taxation, including turnover rate tax and withholding tax on import, is available to private power generation projects.
· There is an identified hydropower potential of over 40,000 MW, and availability of abundant indigenous coal resources in the country.
· The Thar lignite reserves in the Province of Sindh are estimated to be around 175 billion tons.
· Good quality and cost-effective with technical training is available in Pakistan
· The lower risk profile and the government guarantee for the power purchaser and the provinces makes financing attractive to lenders.
Positive Outlook for Power in Pakistan:
· An adequate power supply necessary to achieve sustainable economic growth. Presently, only 65-70% of the 162 million Pakistani people have access to electricity. The government has made it a priority to provide electrical access to the entire population.
· Electrical demand has outstripped supply of electricity in Pakistan. The country is currently faces power shortages of approximately 2500 – 3,000 MW. It is expected that demand will exceed supply by about 5,500 MW in the year 2010. The present electricity demand-supply gap, coupled with consistent growth in demand (6-7% per annum), indicates the fundamental need for enhancing the country’s power generation capability.
· Sixteen Independent Power Producers (IPPs) operate in Pakistan including world-renowned power sector corporations such as Siemens, General Electric, AES, and International Power.
· The National Electric Power Regulatory Authority (NEPRA) has been created to regulate the Pakistan’s power sector. Considerable progress has been made by NEPRA toward the development of the regulatory management and future market design for the power sector. All generation, transmission, and distribution companies are now licensees of NEPRA, and abide by the rules and regulations created by NEPRA regulators to support reliable and efficient power sector production.
· Approximately ten Independent Power Producers with a capacity of 2,200 MW have achieved a Financial Close status and initiated project construction after receiving tariff approval from NEPRA. These Independent Power Producers are sponsored by both local and foreign investors.
· Approximately 40% of the country’s generation capacity is in the private sector, and another 2,200 MW Independent Power Producers Plants are under construction. The Government of Pakistan has reiterated its commitment to increase private sector participation in the power production industry. Consequently, major divestments of public sector units have been made in various sectors.
· One-Window Facility and Investor-Friendly Policy PPIB – with a successful track-record of attracting FDI of over US$ 4.5 Billion in the last decade or so – provides a one-window facility for the processing of private power generation projects above 50 MW. The Policy for Power Generation Projects, 2002 is an investor-friendly policy that offers an attractive set of fiscal and financial incentives to the private sector. The Policy provides a balanced risk profile for the investors, lenders, and government agencies.
· The Government of Pakistan guarantees the performance obligations of the power purchaser and the provinces and provides protection to sponsors and lenders should the project be terminated.
· Typically, a long-term tariff of 25 – 30 years is contracted with the power purchaser which minimizes Independent Power Producers’ market risk for in terms of output. The projects are expected to earn a stable return on investment.
· Standardized and tested agreements – namely, the Implementation Agreement (IA), the Power Purchase Agreement (PPA), the Fuel Supply Agreement (FSA). – are known prior to final agreement.
· Any variation in price of fuel is to be passed on to the power purchaser. Similarly, any additional taxation over and above the Tariff assumptions is likely to be passed on to the power purchaser.
· To cover the risk of exchange rate variations, the various tariff components are indexed for variation in the Pak Rupee and USD exchange rates.
· The Pakistani Government guarantees protection against any change in duties and taxes, and against specified “political risks”.
· Exemption from income taxation, including turnover rate tax and withholding tax on import, is available to private power generation projects.
· There is an identified hydropower potential of over 40,000 MW, and availability of abundant indigenous coal resources in the country.
· The Thar lignite reserves in the Province of Sindh are estimated to be around 175 billion tons.
· Good quality and cost-effective with technical training is available in Pakistan
· The lower risk profile and the government guarantee for the power purchaser and the provinces makes financing attractive to lenders.
Bergamo (BGMO) Stock Trading Info:
ISLAMABAD (September 03, 2009)
Pakistan's economy is showing signs of recover - its remittances are up despite global downturn, local economy is stabilising and global trends are showing signs of improvement, foreign portfolio investment is improving and electricity problems would be mostly over by next year, said an IMF official in an exclusive interview with Business Recorder.
Source: Business
BERGAMO’S CLEAN AND SUSTAINABLE ENERGY PLAN FOR PAKISTAN
Bergamo has focused on Pakistan’s natural resources to provide sustainable energy projects. Pakistan has two sources of energy in abundance: low sulfur lignite coal and sun. With limited oil and natural gas reserves Bergamo E&A has focused on harnessing the natural and environmentally acceptable energy resources of Pakistan: coal and solar energy.
Bergamo has reached agreements with the Pakistani government to build a low sulfur coal fueled energy plant in the Thar Desert of Pakistan where one of the largest coal fields in the world is located. These forward-looking efforts will maximize the value of Pakistan’s natural and abundant energy resources and minimize the impact on the environment.
Carbon Sequestration Power Plant: The coal of the Thar desert is principally of low sulfur and low ash which will support the low polluting coal fueled energy plant of Bergamo . This 544 MW plant will be built with the most technologically advanced and environmentally friendly methods of power generation: Carbon Sequestration. Pakistan has minimal oil reserves and declining gas reserves. Harnessing the low sulfur coal of the Thar desert and the sun’s energy is a natural solution for the country.
$30 bln planned for power sector upto 2016: Zardari
ISLAMABAD, (APP): President Asif Ali Zardari on Saturday said an investment of 30 billion dollars had been planned in the power sector up to year 2016. Addressing the joint sitting of parliament, the President said the government had inherited power shortage of around 3,500 Megawatts.
The President said the sources of funding of 8 billion dollars Basha Dam had been identified, and its construction would start in about a year’s time.
He appreciated the way in which the government had taken the challenge head on, adding that private sector had been encouraged to come forward.
President Zardari said a number of IPPs and rental power projects were being set up, and said some of them would be recommissioned this year and relieve the burden.
www.bergamocorp.com
Pakistan's President, Asif Ali Zardari, has assisted through its investment friendly policy, Bergamo Acquisition Corp. and Bergamo E & A Corp. in bringing these clean energy projects to the people of Pakistan
Bergamo Acquisition Corp. CEO Hillard Herzog Today Featured in Podcast Interview
Ticker Symbol: U:BGMO
LAS VEGAS -- (Business Wire) --
Hillard Herzog, CEO of Bergamo Acquisition Corp. (OTC Pinksheets: BGMO), was featured in a podcast interview on StockGuru.com released after the close of market today. In the interview, Mr. Herzog gave additional details and further explained the $1 billion USD investment into Bergamo's wholly owned subsidiary, Bergamo E & A, as announced on Tuesday. Mr. Herzog also discussed the status of the $100 million USD domestic funding announced on July 27, 2009.
To listen to the interview, please visit: http://www.stockguru.com/2009/09/bgmo-hillard-herzog/
On Friday, September 4, 2009 at 1:40 PM Pacific Time Mr. Herzog will also appear live on "The Big Biz Show" with Sully on the Business Talk Radio Network. To find out more and to listen live, please visit: http://www.bigbizshow.com.
Certain statements contained in this document may constitute "forward-looking statements." When used in this document, the words "may," "would," "could," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect," "investigate," "looking at" as they relate to Bergamo Acquisition Corp. or its management, are intended to identify forward-looking statements or information. Such forward-looking statements include, among others, the expectations or claims, as applicable, that: (i) Bergamo E&A will successfully develop power projects in Pakistan. Such statements or information reflect Bergamo E&A's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors could cause Bergamo E&A's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements or information, including among other things, those risk factors which are discussed elsewhere in documents that Bergamo E&A files from time to time with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements or information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Bergamo Acquisition Corp. expressly disclaims any intention or obligation to update or revise any forward-looking statements and information whether as a result of new information, future events or otherwise. All written and oral forward-looking statements and information attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements.
CONTACT
Bergamo Acquisition Corp.
Hillard Herzog, President & CEO, 702-269-0820
hillardbergamo@aol.com
www.BergamoCorp.com
or
Investor Relations:
Quarterback Investor Relations
John Pentony, President, 469-252-3030
John@QuarterbackIR.com
or
The Eversull Group, Inc.
Jack Eversull, President, 972-378-7917
jack@theeversullgroup.com
Tomorrow
News comming soon.
Reality breakout comming
$1 billion dollars
50 million shares outstanding
no dilution to the stock with financing, equals
$20 dollars a share, simple math.
mainstream media comming soon
GLTA
Bergamo Acquisition Corp. CEO Hillard Herzog Today Featured in Podcast Interview
Ticker Symbol: U:BGMO
LAS VEGAS -- (Business Wire) --
Hillard Herzog, CEO of Bergamo Acquisition Corp. (OTC Pinksheets: BGMO), was featured in a podcast interview on StockGuru.com released after the close of market today. In the interview, Mr. Herzog gave additional details and further explained the $1 billion USD investment into Bergamo's wholly owned subsidiary, Bergamo E & A, as announced on Tuesday. Mr. Herzog also discussed the status of the $100 million USD domestic funding announced on July 27, 2009.
To listen to the interview, please visit: http://www.stockguru.com/2009/09/bgmo-hillard-herzog/
On Friday, September 4, 2009 at 1:40 PM Pacific Time Mr. Herzog will also appear live on "The Big Biz Show" with Sully on the Business Talk Radio Network. To find out more and to listen live, please visit: http://www.bigbizshow.com.
Certain statements contained in this document may constitute "forward-looking statements." When used in this document, the words "may," "would," "could," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect," "investigate," "looking at" as they relate to Bergamo Acquisition Corp. or its management, are intended to identify forward-looking statements or information. Such forward-looking statements include, among others, the expectations or claims, as applicable, that: (i) Bergamo E&A will successfully develop power projects in Pakistan. Such statements or information reflect Bergamo E&A's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors could cause Bergamo E&A's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements or information, including among other things, those risk factors which are discussed elsewhere in documents that Bergamo E&A files from time to time with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements or information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Bergamo Acquisition Corp. expressly disclaims any intention or obligation to update or revise any forward-looking statements and information whether as a result of new information, future events or otherwise. All written and oral forward-looking statements and information attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements.
CONTACT
Bergamo Acquisition Corp.
Hillard Herzog, President & CEO, 702-269-0820
hillardbergamo@aol.com
www.BergamoCorp.com
or
Investor Relations:
Quarterback Investor Relations
John Pentony, President, 469-252-3030
John@QuarterbackIR.com
or
The Eversull Group, Inc.
Jack Eversull, President, 972-378-7917
jack@theeversullgroup.com