Scottsdale 5/3/2014 3:00:00 AM
QualityStocks News - P2 Solar (PTOS) Gets Government Green Light to Advance Rajgarh Mini-Hydro Project in India
QualityStocks would like to highlight P2 Solar, Inc. (OTCQB: PTOS). The company participates in the lucrative renewable energy market as a developer of solar photovoltaic (PV) power and mini-hydro projects. Acknowledging the rising demand for clean energy worldwide, renewable energy's increasingly competitive edge over grid electricity, and commercial efforts to reduce reliance on greenhouse gas emitting fossil fuels, P2 Solar invests and channels its resources to benefit from these global trends.
In the company’s news,
P2 Solar has signed an Implementation Agreement with Punjab Energy Development Agency (PEDA), Punjab State’s governing authority on all renewable energy projects.
Per the agreement, P2 Solar has permissions to establish, operate, and maintain the Rajgarh Mini-Hydro Project on a build, own, and operate basis, as well as allows for the non-consumptive use of the canal water for the purpose of power generation during the initial 35-year agreement period. After 35 years, with mutual consent from PEDA and P2 Solar, the agreement will either be extended or PEDA will buy the project outright at market price.
The Rajgarh Mini-Hydro Project is located on the Sidhwan irrigation canal near the city of Ludhiana in Punjab, India, upstream from P2 Solar’s other mini-hydro project, Project Tibba.
“This is another significant step as we can now hire an EPC (Engineering, Procurement, and Construction) contractor and start planning construction of the project. We will be in a position to announce hiring of the EPC and construction start date in six to eight weeks,” Raj-Mohinder Gurm, CEO of P2 Solar, stated in the news release.
Aside from P2 Solar’s pursuit of opportunities within the mini-hydro power market, the company is primarily focused on building new solar PV projects where renewable energy policies are favorable and where the public and private sectors are actively seeking to incorporate solar PV into their electricity consumption profiles.
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