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  • Pan Global Corp. (PGLO) Reports Acceptance Of Final Engineering Due Diligence Report On Small-Hydro Plant Acquisition Target 0 comments
    Feb 20, 2014 10:17 AM | about stocks: PGLO

    Today, Pan Global reported in a news release that it had received and accepted the final engineering due diligence report for another small-hydro plant it has been looking at in northern India. The company has identified the 9.5 MW small-hydro plant as a second prospective acquisition target, in its ongoing bid to engage in sustainable energy projects in India. The due diligence report for the new acquisition prospect was prepared by the global engineering consultancy company, Tractebel Engineering Pvt. Ltd.

    Pan Global has been making steady progress in its staggered acquisition of another small-hydro plant in northern India from Regency Yamuna Energy Limited, a privately held Indian company. The acquisition of this first 5.7 MW small-hydro plant is scheduled to be completed within the coming months.

    Pan Global's management said, "We are encouraged by Tractebel's engineering due diligence report and look forward to continuing with our legal and accounting review and investigation. We remain committed to our strategy of investing in sustainable energy projects as a key part of our objective of building long-term shareholder value."

    Recently, the Indian government's Ministry of New and Renewable Energy signified its commitment to sustainable energy production. A recent online post by the ministry stated: "An estimated potential of about 15,000 MW of small-hydro power projects exists in India." Pan Global sees small-hydro plants as being one of the keys to energy production in emerging markets such as India.

    The company is committed to invest in green energy technology and infrastructure to build an inclusive green economy around the world.

    For more information, visit: panglobalcorp.com

    QualityStocks provides investor relations services to publicly traded companies in exchange for compensation. This article may be part of our efforts to widen a client's exposure. To read our full disclaimer, visit http://disclaimer.qualitystocks.net

    Stocks: PGLO
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