We currently believe the approval process and the signing of the PPA is in its final stages and anticipate an executed PPA before the end of the 2014 fiscal year.
The Company has already decided, as required by the Ex-Im, to hire a wind turbine manufacturer to handle the Operations and Management of the wind park once operational. This will allow the Company to focus on overall customer relations and top-level oversight, handling only financial and executive functions.
The estimated working capital requirement for the next twelve months is $1,250,000 with an estimated burn rate of $104,000 per month. The Company continues to proceed with the required field studies and engineering needed on the wind park.
Over the next twelve months the Company anticipates executing its Power Purchase Agreement, pursuing debt financing for approximately $45,000,000 and raising an estimated $10,500,000 of private equity to develop the first wind park on the site.
