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Thursday, May 22, 2014 7:46:12 PM
Renewable energy is generally defined as energy that comes from resources which are naturally replenished on a human timescale such as sunlight, wind, rain, tides, waves and geothermal heat. Renewable energy replaces conventional fuels in four distinct areas: electricity generation, hot water/space heating, motor fuels, and rural (off-grid) energy services
While global renewable energy’s growth rate is trending at an 8% increase year-over-year, environmental technology company Pan Global is positioning itself as a credible contender in the solar and hydropower segments of the green energy industry.
Operating through its wholly owned subsidiary, Pan Asia Infratech Corp., PGLO focuses on environmentally sustainable energy, technologies, and infrastructure. The company uses a growth strategy centered on the acquisition or development of green energy operations in India – a country whose energy grid challenges are historically well-documented.
As part of this plan, Pan Asia Infratech in the fourth quarter of 2013 entered into a stock purchase agreement with Regency Yamuna Energy Ltd. for the sporadic acquisition of Project Badyar, a 5.7 megawatt, small-hydro power plant in northern India. Pan Global has retained a global engineering consulting company to conduct visits and inspections of the project site on the company’s behalf.
With the Badyar project 95% complete, projections from commercial operations for late spring indicate that the plant is expected to generate annual revenue of approximately $1.95 million per year for the life of the project, which is 35 years under India’s Uttarakhand Electricity Regulatory Commission 2013 regulations and the Power Purchase Agreement.
In addition to its work in the small-hydro power segment, Pan Global is focused on the development of various other green energy opportunities in India such as solar photovoltaic, controlled-growth agriculture, mega-watt scale geo-thermal power projects and more.
For more information, visit www.panglobalcorp.com
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