P2 Solar Signs 76.5 Million Dollar Solar Project in Bulgaria; Shares Moving Higher

P2 Solar

is pleased to announce that it has executed an option agreement to develop a 7.3 Mega Watt solar power farm with a 20 year gross revenue of 76.5 Million USD. The shovel ready project is located in south-western Bulgaria near the Greek border and has land secured, all required permits are in place and a 20 year government Power Purchase Agreement, is signed. The company recently appointed a Bulgarian consultant who has been working with management to identify potential solar projects. The company has had a team working in Bulgaria for the months of June and July reviewing numerous opportunities and is now performing due diligence and technical analysis on the 7.3MW project site. The project is slated to be constructed on a 35+ acre parcel of land perfectly suited for a PV solar farm. Mr. Raj-Mohinder Gurm, CEO of P2 Solar, Inc., said, "We are excited with this 7.3 MW solar project and will be performing due diligence with our engineering team and legal counsel during the next three weeks in order to finalize the project details. Our team has been working hard to secure projects in line with our company mandate and Bulgaria should become a big part of that with its enormous potential for solar power development."