Panax Geothermal reviewing term sheets on financing for Indonesian geothermal projects

Panax Geothermal (ASX: PAX) is reviewing draft term sheets for financing its Indonesian geothermal projects, which are close to having their Power Purchase Agreements finalised.

The draft term sheets have been provided by a number of groups with Panax identifying a number potential funding partners that it considered would most likely complete a funding deal. These include:

– A syndicated group of Singapore based investment funds that are part of a group with prior investment experience in Asia Pacific geothermal projects and capable of providing the required equity capital;
– A European based investment fund with substantial investment in renewable energy projects in Europe and Asia that can provide the majority of the required equity capital; and
– A Chinese conglomerate that can provide the required equity and project finance requirements as well as substantial technical and development experience.

read more

Advertisements

Posted September 28, 2012 by repit in News

%d bloggers like this: