EnviroMission Ltd. (EVOMY)

[tykundegex]

SCPPA approves Power Purchase Agreement with Enviromission!

http://www.asx.com.au/asxpdf/20101026/pdf/31td5p3h19w450.pdf

Excerpts:

SCPPA: "SCPPA is excited to support a large scale solar technology that when successfully deployed could change the renewable energy landscape. The pricing and load profile of the Solar Tower coupled with its zero water power production cycle makes it a compelling alternative."

Enviromission: "finalization of this PPA with the SCPPA is an important milestone that will allow finance to be secured and Front End Engineering and design (FEED) that is required to break ground at the site earmarked in Arizona to commence."

So that's indeed great news! After a long struggle, Enviromission appears to finally be firmly upon the commercialization path.

Next up: find out timelines and revenue model. If I recall correctly, from breaking ground to operational for a single tower can be 2 years.