P2 Solar, Inc. (NCII.OB) Receives Government Approval to Construct 25MW Solar Power Station in India
P2 Solar, Inc. announced this morning that it has submitted plans to the Indian State of Punjab for the construction of a 25 Mega Watt Solar Power Plant and has received governmental approval to build the 25MW Solar Power Station in the Indian State of Punjab. The current intent of the parties is to sign a written agreement memorializing the terms of the project after May 20, 2009. According to the press release, the contract will include a Power Purchase Agreement for 33 years.
Mr. Raj-Mohinder Gurm, CEO of P2 Solar, Inc. stated, “We are extremely pleased to be working with the Indian Government with its need for electrical power. This initial phase of 25MW is part of a larger planned Power Station for the State of Punjab, and is being closely watched by a number of additional Indian States. We would like to thank all of the local, state, and federal agencies that assisted in making this project possible and look forward to working with them for years to come.”
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