BioPower Operations Corp (BOPO)

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"Project Name: POWGEX-HYFI

Owner: BioPower Operations Corporation and POWGEX ENERGY SOUTH AFRICA

Location: Mpumalanga

Inception Date: 2024

Planned Decommission: n/a

Type: solar PV and battery storage

Status: Proposed

Capacity: 1MW in Q1 of 2024 with potential to expand to 30MW

Associated Mines: n/a

Funding Entity: Signet Capital

Funding Mechanism: Signet Capital has agreed to be the lead financial advisor of record and is arranging a $450 Million private placement for the first trance(s) of a green electricity generation project of the joint venture with POWGEX ENERGY called POWGEX-HYFI which intends to build, own and operate green electricity generating facilities for the next 45 years

Repurposing Plan: n/a

Source: Hybrid Finance

Source Link: Visit link

Additional Info: BioPower will own up to 19.99% of the joint venture and receive a $50m equity investment in exchange for various deliverables including providing initial structured finance for $450 Million and our OEM, EPC & O&M relationships. A portion of the use of proceeds will enable, subject to certain terms and conditions, POWGEX Energy to buy 15% of BioPower Common Stock or 7,500,000 shares at $6.67 per share at a $333 Million valuation for $50,000,000 and get one Board of Director seat. Hybrid Finance (HYFI) will have one Board of Director seat on the JV and POWGEX will have 2 seats.

GLTA

BOPO