Thursday, March 21 2019 8:37 AM, EST BLUE SPHERE PROVIDES HOLLAND PROJECT UPDATE Sterksel, Netherlands Development Set to Move Forward - Financing In Place Accesswire "Press Releases"
CHARLOTTE, NC / ACCESSWIRE / March 21, 2019 / Blue Sphere Corporation (OTC PINK: BLSP) (the "Company" or "Blue Sphere"), a clean-tech independent power producer that develops, owns and manages waste-to-energy facilities globally, today provided an update on activities for its waste-to-energy project in Sterksel, Netherlands .
Financing Completed
Blue Sphere has completed the project financing for the development in Sterksel, allowing the Company to proceed into the construction phase of the landmark project. The financing for the project was provided by BNG Bank N.V. , ETFF, BNG Bank, N.V. , Nationaal Groenfonds and Helios Energy Investments 3, LP, all financing documents have been signed and a financial closing date is being scheduled.
BNG Bank N.V. has provided a total of €29,254,900 (approximately USD $33,161,102 ) in the form of Senior Term Loans, VAT Loans, Bank Guarantees and a Working Capital Facility. ETFF, BNK Bank N.V and Nationaal Groenfonds have provided a total of €6,421,550 (approximately USD $7,278,974 ) in Junior Term Loans and Blue Sphere's longtime partner Helios Capital , through their Helios Energy Investments 3, L.P. has provided an equity investment totaling €3,250,000 (approximately USD $3,683,949 ). BlueSphere shall retain a sixty percent (60%) equity ownership stake in the project.
