would like to highlight Dominovas Energy Corp.
), an energy solutions company dedicated to bringing clean, sensible and reliable power to areas of the world that lack this precious commodity. Recognizing the incredible growth and profit opportunities of the green and alternative energy markets, Dominovas Energy defined a sustainable deployment model to take a leading position among alternative green energy solutions providers.
In the company’s news,
Dominovas Energy, a leading power solutions provider to emerging markets around the world, issued a press release today announcing a landmark capital commitment for $1.2 billion US Dollars in project financing (the “Financing”) with Graecrest Energy Solutions. The funds will be used for the initial phase to manufacture, produce, and deploy Dominovas Energy’s proprietary RUBICON™ SOFC systems, pursuant to signed and executed guaranteed Power Purchase Agreements (PPAs).
“This is an unprecedented and historic commitment not only for Dominovas Energy, but it is additionally significant for the fuel cell industry as a whole. This financing commitment is further validation of the Company’s business model and an undeniable endorsement of the technical prowess of the RUBICON™ and the ‘game plan’ we have set forth for the commercial deployment of our fuel cell system,” stated Neal Allen, Chairman and CEO. “With $1.2 billion secured for the phase 1 manufacturing and installation of the RUBICON™, we have put in place the building block that supports our innovation in engineering this next generation technology for the commercial production of clean and sustainable baseload power via the proprietary RUBICON™.”
“With this Financing secured, Dominovas Energy actively demonstrates that the funding of power infrastructure projects in global and emerging markets is not only possible, but feasible. One hundred percent of phase 1 project costs for deployment of RUBICON™ systems are covered in this first tranche of financing. Dominovas Energy remains on schedule and on budget for 2016,” Allen added.
Since announcing the first 3MW PPA for the City of David in the Democratic Republic of the Congo earlier this year, Dominovas Energy has been unwavering in its mission to secure project finance capital to support the deployment of over 200MWs of signed and guaranteed PPAs. Dominovas Energy believes that securing project financing marks the catalyst for the materialization of its value proposition in emerging energy markets.
Dominovas Energy Vice President of Investments and Finance Eric Fresh stated, “The Financing is a commitment from a ‘Sole Source Provider’ that is subject to the satisfactory completion of customary due diligence and underwriting/funding requirements, which will adequately facilitate Dominovas Energy’s complete project funding via this initial facility. Under the terms of the commitment, Dominovas Energy will have the ability to seamlessly reassess its needs in order to potentially expand capital commitments, a necessity in accommodating subsequent financing phases of RUBICON™ system deployments.”
The financing structure has extended tenors of 20 to 30 years, providing Dominovas Energy with a unique opportunity to implement long-term, cost-effective project finance capital. Because there is immediate availability of financing upon financial close for each project, Dominovas Energy will be able to effectively and efficiently deliver on schedule its mandate of creating commercially-viable, clean, and sustainable energy solutions to global emerging markets — all while creating value to its Off-takers.
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