ubrg and metwood = Universal Bioenergy's NDR Energy Group Signs MOA With JSG Solar, Announces Plans to Build $167 Million Solar Power Farm
IRVINE, Jun 03, 2013 (GLOBE NEWSWIRE via COMTEX) -- Universal Bioenergy Inc., (otcqb:UBRG), a publicly traded independent diversified energy company, that markets and distributes natural gas, electricity, petroleum and coal, announced that its subsidiary, NDR Energy Group, has signed a Memorandum of Agreement (MOA) with JSG Solar Inc., to build a solar power farm in eastern North Carolina, USA. The estimated cost to build the facility is $167 million. The project is projected to generate an estimated $301 million in revenues over 25 years.
The solar power facility would be owned by NDR Energy Group, which would make NDR an electric power producer. The solar facility would be built on approximately 425 acres of land and generate 80-100MW (megawatts) of electricity for sale to electric public utilities in the North Carolina service area. The estimated annual electricity production is 143.9 million kilowatt hours (kWh).
JSG Solar, Inc., is a comprehensive solar integrator providing engineering, design and installation services for solar PV and thermal systems. Prior to entering into the MOA, NDR Energy initiated discussions with a large North Carolina utility to sell to them the electric power generated from the facility via a 25 year term Power Purchase Agreement (PPA). NDR plans to execute the required regulatory filings, including the CPCN filing, in the near future.
