Global Poletrusion Group Corp. (GPGC)

[realstocksarentpinks]

NEWS!!!

https://www.google.com/amp/s/amp.benzinga.com/amp/content/14132200

Global PoleTrusion Group Corp. in Negotiations to Acquire 50% of Daconan Solar

Miami, Florida, July 25, 2019 – Global PoleTrusion Group Corp. (OTC PINK: GPGC) is currently in negotiations to acquire 50 percent of Daconan Solar, a Panamanian solar energy provider that is licensed by the Panamanian government to generate and sell electricity until 2057. This association will facilitate the commercialization of GPGC’s renewable energy production projects.
“This partnership will allow us to expand our energy delivery capabilities in Panama and obtain power purchase agreements that will further grow our business and maximize value for our shareholders,” stated Ramiro Guerrero, President and CEO of GPGC.
The proposed acquisition will also include 50 percent of the Daconan Star Solar Plant which currently has a capacity of 240 kW. GPGC and Daconan Solar are planning to increase that capacity to 6 MW to better meet the regions demand for electricity. The solar plant will also receive backup energy from the Barú-1 Biomass Power Plant currently being developed by GPGC in Panama to ensure uninterrupted energy delivery when sunlight is unavailable without requiring expensive energy storage batteries.
GPGC estimates that annual revenues will increase by $780,000 USD based on the Daconan Star Solar Plant’s electricity generation expansion to 6 MW. Further growth will be realized as GPGC and Daconan Solar continue to develop renewable energy projects in Panama.
“Aligning our businesses will enable us to deliver energy more efficiently to meet the requirements of our existing power purchase agreements and provide for the growing demand for electricity in Panama,” said Daniel Hernández Rodrígez, CEO of Daconan Solar.