PanGlobal progresses on potential Indian geothermal development
Manikaran, Himalayas, India (source: flickr/ mvcorks, creative commons)
Alexander Richter
2 Nis 2014
U.S. based Pan Global announces that its negotiations with potential developer for a geothermal project in India are progressing.
In a release last week, Nevada-based Pan Global, Corp. provides an update on its plans for entering the geothermal energy production industry in India.
On January 21, 2014, as reported on ThinkGeoEnergy, the Company announced it had commenced preliminary discussions with a key developer in India’s geothermal industry about possibly forming a partnership concerning the Company’s investment in a geothermal power plant in India. Today, the Company reports that that discussions have progressed positively and both parties expect further discussions to yield a framework for joining forces on a specific power plant project.
The Company’s Management commented, “We have previously stated our plans to include geothermal energy as one of the Company’s focus areas within the renewable energy sector. We are pleased to update our shareholders that our plans regarding geothermal are progressing.”
The Company has not entered into any binding agreement at this point. The Company will continue to provide updates as it evaluates this opportunity, conducts customary due diligence and progress with negotiations.”
Source: Company release via Marketwired
