P2 Solar Receives Financing Term Sheet for 7.2 Million Euros
(firmenpresse) - SURREY, BRITISH COLUMBIA -- (Marketwire) -- 03/07/12 -- P2 Solar, Inc. (the "Company") (OTCBB: PTOS) is delighted to announce that it has received a financing term sheet in the amount of 7.2 million Euros in non dilutable debt financing to provide 100% of the debt financing requirements for its newly announced 4.95 MW solar power farm in Bulgaria.
The debt financing will provide for 70% of the total project cost. The financing term sheet is subject to the Bank's due diligence of the solar project. Due diligence will be performed during the next 2 weeks and upon successful completion, will be reviewed for final bank approval.
Mr. Raj-Mohinder Gurm, CEO of P2 Solar, Inc., said, "This is a very important first step in the process of successfully financing and building this exciting project."
Solar in Bulgaria:
Bulgaria has emerged as one of Europe's most lucrative solar energy markets because of the country's strong solar irradiation and government feed-in-tariff program. Developers are seeking new opportunities in central and south-eastern Europe after Spain and Germany, the global industry leaders in photovoltaics (PV), cut incentives.
P2 Solar Mandate:
The Company has been building its management team in an effort to take advantage of opportunities in the emerging solar industry worldwide. The Company's areas of focus are the regions of India, Europe and Canada and the company is currently working to identify and execute potential PV solar projects in these regions. For more information, please visit
Safe Harbor Statement
Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Risk factors that could cause actual results to differ materially from those projected in forward-looking statements include, but are not limited to, general business conditions, managing growth, and political and other business risks. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks and other factors detailed in P2 Solar, Inc.'s reports filed with the Securities and Exchange Commission. P2 Solar, Inc. undertakes no duty to update these forward-looking statements.
Contacts:
Investor Relations Contact:
Capital Group Communications, Inc.
Mark Bernhard
(415) 332-7200
Company Contact:
P2 Solar, Inc.
(888) 945-4440
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Unternehmensinformation / Kurzprofil:
Datum: 07.03.2012 - 14:15 Uhr
Sprache: Deutsch
News-ID 122702
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