They're a private group. They are organized as a group of companies which graecrest (GC from now on) controls. GC is kinda like a hedge fund. This is what they do. They give the money to DNG to build the plant, DNG doesn't pay them back in cash or stock, instead GC gets a power purchase agreement, they get to by ALL the power the DNG makes, at DNG's price, then sell it to market for a mark up. GC and DNG profit. The spread is how DNG pays the money back....in other words, GC just paid 1.2b for a PPA, because they believe that they will make more in return. It's smart really, because the Congo won't have a choice but to buy the power, and the U.S. Will cover most of the infrastructure costs....DNG gets a free power plant, free institutional expertise, a ready and guaranteed customer the instant it turns on. Personally, I'll poop my pants if DNG doesn't get bought out by a different hedge fund group in the next year. With all these serious players circling this little company, I imagine more than a few are already looking at it and salivating at the potential $$$$ to be made. DNG is doing just one plant, but there are at least 7 countries in the Africa program, and SEVERAL plants going into each. Every city in these countries needs its own plant, think about that. These countries are standing by to get raped on the prices that will be charged to them, and have the night of the U.S. Preventing them from being nationalized. This is the beginning of a beautiful decade for us business in Africa.
AI
