Today, Pan Global mentioned in a news release its interest in India’s need for sustainable energy production. A recent online post issued by the Ministry of New and Renewable Energy of the Indian government indicates the Indian government’s commitment to development of small-hydro power opportunities.
Based upon this measure, Pan Global believes that there are strong expansion opportunities for small-hydro facilities in India. The company sees small-hydro projects as being an ideal solution for electricity generation issues in emerging markets such as India. Currently, Pan Global is working to acquire its first small-hydro plant in North India, of which it is expected to finish its staggered acquisition of in the coming months. The company is also conducting its due diligence review of a second potential acquisition target (a 9.5 MW hydro facility), which is also located in northern India.
Pan Global’s management commented, “We are persistent in our belief that the potential opportunity in small-hydro power is tremendous. We are planning and intend to become a major player in the development of small-hydro plants in India while contributing to the world’s need for sustainable energy and providing value to our shareholders.”
Overall, Pan Global is looking to create a hydro project pipeline. It has been working toward this goal with the help of a number of partners, seeking to acquire hydro projects which are in operation or under development. Right now, the company is in talks with two parties over the acquisition of up to 30 MW of hydro power projects which, if completed, would be expected to generate revenue for the company. It is also negotiating another 15 MW of projects under development with these parties.
Pan Global is also looking at energy opportunities in other areas, such as where other state-of-the-art opportunities may be better than small-hydro sources for sustainable energy production.
For more information, visit: www.panglobalcorp.com
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