Aragorn
FULL MEMBER
- Joined
- Dec 5, 2009
- Messages
- 105
- Reaction score
- 0
US RenuEn Corporation secures 50MW solar project
NEW YORK: RenuEn Corporation, a expanding renewable energy roll up company focused on solar, wind and geothermal energy solutions, announced it has secured 50 megawatts (MW) solar project in Pakistan through its pending acquisition of Team Energy, Inc Projected installed cost is $200 million.
The project will be managed by a foreign operating subsidiary, which is also joining RenuEn upon closing of acquisition. Power Purchase Agreement (PPA) is guaranteed by Government of Pakistan and is for 25 years. For their management in project, Company will realise income throughout the duration of PPA.
Team Energy has extensive international experience in developing power projects and 50 MW solar farm is just one of many they have secured, said James Scott, CEO RenuEn.
50 MW solar project is prime example of why acquisition of Team Energy is so significant for our Company.
Company will choose its construction partner soon. Pakistan government shall be power purchaser. Project meets all of criteria for MIGA investment guaranty coverage. MIGA is a division of World Bank. Don Wood, CEO of Team Energy said. ppi
Daily Times - Leading News Resource of Pakistan
NEW YORK: RenuEn Corporation, a expanding renewable energy roll up company focused on solar, wind and geothermal energy solutions, announced it has secured 50 megawatts (MW) solar project in Pakistan through its pending acquisition of Team Energy, Inc Projected installed cost is $200 million.
The project will be managed by a foreign operating subsidiary, which is also joining RenuEn upon closing of acquisition. Power Purchase Agreement (PPA) is guaranteed by Government of Pakistan and is for 25 years. For their management in project, Company will realise income throughout the duration of PPA.
Team Energy has extensive international experience in developing power projects and 50 MW solar farm is just one of many they have secured, said James Scott, CEO RenuEn.
50 MW solar project is prime example of why acquisition of Team Energy is so significant for our Company.
Company will choose its construction partner soon. Pakistan government shall be power purchaser. Project meets all of criteria for MIGA investment guaranty coverage. MIGA is a division of World Bank. Don Wood, CEO of Team Energy said. ppi
Daily Times - Leading News Resource of Pakistan
