Today before the opening bell, Pan Global announced that it had begun talks with a geothermal developer over the prospects of a partnership and investment in a geothermal power plant in India. The geothermal developer, a key player in India's geothermal industry, reports that most of the steps required for bringing the power plant to construction-ready status have been fulfilled. Thus, construction of the plant could begin shortly upon the closing of an adequate financing deal.
Pan Global's management commented, "We have previously indicated that one of our focus areas within the renewable energy sector is geothermal energy production, so we are very pleased to be able to report about our entry into preliminary discussions on this front to our shareholders."
Pan Global is evaluating this opportunity and its merits. If talks progress, the company will conduct customary due diligence and negotiations while continuing to provide updates as its plans develop. This move is Pan Global's latest move in its bid to invest in green energy technology and infrastructure to build an inclusive green economy around the world, acting through its wholly owned subsidiary, Pan Asia Infratech, Corp.
For more information, visit: panglobalcorp.com
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