Loan agreement – 4 Bubbly http://4bubbly.com/ Tue, 02 Nov 2021 00:04:12 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://4bubbly.com/wp-content/uploads/2021/10/profile-120x120.png Loan agreement – 4 Bubbly http://4bubbly.com/ 32 32 Dispute against Jagan’s government using governor’s name in loan agreement https://4bubbly.com/dispute-against-jagans-government-using-governors-name-in-loan-agreement/ https://4bubbly.com/dispute-against-jagans-government-using-governors-name-in-loan-agreement/#respond Mon, 01 Nov 2021 17:55:00 +0000 https://4bubbly.com/dispute-against-jagans-government-using-governors-name-in-loan-agreement/ The inclusion of the name of the governor of Andhra Pradesh, Biswa Bhusan Harichandan, as guarantor in a loan agreement has put Jaganmohan Reddy’s government in a soup kitchen. The governor is said to have expressed dissatisfaction with the inclusion of his personal name in the guarantor’s address for notices in the deal to secure […]]]>

The inclusion of the name of the governor of Andhra Pradesh, Biswa Bhusan Harichandan, as guarantor in a loan agreement has put Jaganmohan Reddy’s government in a soup kitchen.

The governor is said to have expressed dissatisfaction with the inclusion of his personal name in the guarantor’s address for notices in the deal to secure a loan of Rs 25,000 crore by the State Development Corporation. Andhra Pradesh from financial institutions.

The case came to light recently when the High Court of Andhra Pradesh, while considering various petitions challenging the purpose of the APSDC, questioned the government about the use of the governor’s name.

Several government actions are carried out “in the name of the governor”, the constitutional head of state as the President at the center. It refers to the institution, and not to the immediate person occupying the chair.

But the inclusion of Harichandan’s name in the address column for service of notices, some senior officials said, gave the impression that he personally guaranteed the debts.

Check out the latest DH videos here:

The “description of the guarantor” in Annex 3 of the APSDC bank loan document mentions “BiswaBhusan Harichandan, Governor of Andhra Pradesh”, followed by the C / O address of the finance department of the secretariat of the AP, Amaravati.

“The matter came to the attention of the governor’s office after the HC’s observations. It’s strange, because putting the name of the governor as guarantor goes against article 361 of the Indian constitution, ”a senior official told DH.

Article 361 states that the president, or the governor of the state, “shall not be responsible before any court for the exercise and execution of the powers and duties of his office or for any act done or purported to be done by him in the exercise and fulfillment of these powers and duties.

Following the controversy, officials from the state’s finance department sought to provide an explanation to the governor and are reportedly renegotiating the writing of the loan deed with the banks.

“It is certainly not a clerical error. The government needs to be clear on many aspects such as – why did the banker ask for the inclusion of the governor’s name, if it had, and why the government did not ask governor’s approval before doing so, ”former Andhra Pradesh IYR Chief Secretary Krishna Rao told DH.

Rao accused the YSRCP government of circumventing rules and procedures to obtain huge amounts of loans from banks. The Reddy government allegedly promises government assets such as buildings and future income to qualify for loans.

Last Thursday, a few days after HC’s request, Reddy met Governor Harichandan at Raj Bhavan. CMO officials said it was a courtesy visit with his wife.


Source link

]]>
https://4bubbly.com/dispute-against-jagans-government-using-governors-name-in-loan-agreement/feed/ 0
ECIEEA signs € 19.7 million loan agreement for the Global Rail Baltica project https://4bubbly.com/ecieea-signs-e-19-7-million-loan-agreement-for-the-global-rail-baltica-project/ https://4bubbly.com/ecieea-signs-e-19-7-million-loan-agreement-for-the-global-rail-baltica-project/#respond Thu, 28 Oct 2021 09:00:00 +0000 https://4bubbly.com/ecieea-signs-e-19-7-million-loan-agreement-for-the-global-rail-baltica-project/ Riga, Latvia (Urban Transport News): European Executive Agency for Climate, Infrastructure and Environment (CINEA), Baltic States Joint Venture RB Rail AS, Estonian Ministry of Economic Affairs and Communications, Latvian Ministry of Transport and Ministry of Transport and Lithuanian Communications signed Cross-border Grant Agreement on the financing of the European Interconnection Facility (CEF) for Rail Baltica. […]]]>

Riga, Latvia (Urban Transport News): European Executive Agency for Climate, Infrastructure and Environment (CINEA), Baltic States Joint Venture RB Rail AS, Estonian Ministry of Economic Affairs and Communications, Latvian Ministry of Transport and Ministry of Transport and Lithuanian Communications signed Cross-border Grant Agreement on the financing of the European Interconnection Facility (CEF) for Rail Baltica.

The total budget of the agreement is 19.7 million euros, of which the CEF contribution will be of a maximum amount of 16.7 million euros or 85% of the total eligible costs under this agreement. The remaining 15% will be funded by the governments of the Baltic states.

“The additional funding of the Interconnection Facility in Europe and the Baltic States not only reconfirms once again the strong commitment of the EU and the Baltic partners to this unique cross-border project, but will also enable the remaining planning work to be finalized. , to accelerate the delivery of the global project by starting the design purchases of the missing links on the critical section of Kaunas – Lithuania / Poland border as well as Kaunas – Vilnius, and facilitate the start of construction purchases of the main line in Latvia ” says Agnis Driksna, Chairman of the Board of Directors of Rail Baltica Joint Venture RB Rail AS.

“It also includes several important studies such as the delivery of the cost benefit analysis and the next generation business plan for Rail Baltica. The finalization of the already started design activities for the railway installations and the main line to achieve construction readiness remains the top priority between the project partners, ”adds Driksna.

The grant agreement includes the following activities:

  • Design of Kaunas railway infrastructure in the station area (Phase I) in Lithuania;
  • Design of the Kaunas infrastructure maintenance facility in Lithuania;
  • Design changes to allow operational developments of the Riga node in Latvia;
  • Modification of the detailed technical design of the railway section of Riga Central Station, based on the operational plan of Rail Baltica in Latvia;
  • Study of the Cekule site, identification of unexploded ordnance (UXO) in the former military zone of Cekule in Latvia;
  • Planning of Pärnu County in Estonia;

Funding was also granted for a joint study on the development of the chaining and geodetic reference network of Rail Baltica in the Baltic countries and the development strategy of the IT architecture.

“Between 2014 and today, there have been seven EU-funded Rail Baltica projects, for a total EU support amount of over € 950 million. This latest project, worth nearly € 17 million in research and design grant, highlights the hard work and positive collaboration of all stakeholders involved. I wish the beneficiaries, RB Rail, Estonia, Latvia and Lithuania, a successful implementation of this cross-border project on the North Sea-Baltic Core Network Corridor ”, said Morten Jensen, Head of Unit at CINEA.

This grant agreement is the last for the 2014-2020 financial year.

Under the period of the EU Multiannual Financial Framework 2014-2020, as well as the newly signed agreement, the three Baltic States and RB Rail AS signed a total of seven grants designed under the funding from the European Union MIE for the construction of the conventional rail infrastructure Rail Baltica. . With the previously signed subsidy agreements, Rail Baltica has already obtained around 1.14 billion euros from European and national funds.


Source link

]]>
https://4bubbly.com/ecieea-signs-e-19-7-million-loan-agreement-for-the-global-rail-baltica-project/feed/ 0
Center signs $ 4.5 million loan agreement with AfDB for a sustainable urban mobility plan for Aizawl https://4bubbly.com/center-signs-4-5-million-loan-agreement-with-afdb-for-a-sustainable-urban-mobility-plan-for-aizawl/ https://4bubbly.com/center-signs-4-5-million-loan-agreement-with-afdb-for-a-sustainable-urban-mobility-plan-for-aizawl/#respond Tue, 26 Oct 2021 13:59:14 +0000 https://4bubbly.com/center-signs-4-5-million-loan-agreement-with-afdb-for-a-sustainable-urban-mobility-plan-for-aizawl/ The Center on Tuesday signed a $ 4.5 million (Rs 34 crore) Project Readiness Finance (PRF) loan with the Asian Development Bank (AfDB) to develop a sustainable transport system in the capital city of Mizoram, Aizawl. Urban mobility in Aizawl, the center of Mizoram’s administrative and service industry, is severely limited due to rapid and […]]]>

The Center on Tuesday signed a $ 4.5 million (Rs 34 crore) Project Readiness Finance (PRF) loan with the Asian Development Bank (AfDB) to develop a sustainable transport system in the capital city of Mizoram, Aizawl.

Urban mobility in Aizawl, the center of Mizoram’s administrative and service industry, is severely limited due to rapid and unplanned urbanization. This results in traffic jams on narrow roads, a negative impact on road safety, efficient movement of people and goods and environmental sustainability in the hill town.

The agreement was signed between Rajat Kumar Mishra, Deputy Secretary in the Department of Economic Affairs of the Ministry of Finance and Takeo Konishi, Country Director of the AfDB Resident Mission in India.

After signing the agreement, Mishra said the PRF is supporting the development of long-term solutions to improve urban mobility in Aizawl by identifying high priority urban transport investments for the ensuing project and improving its readiness. supporting due diligence and other preparatory activities.

“The PRF will develop a Comprehensive Mobility Plan (CMP) for Aizawl which outlines the urban transport development strategy and create synergies with urban development planning initiatives in the state, and promote climate and disaster resilience, and the inclusion of gender in its interventions, ”Konishi said. .

The PRF will conduct feasibility studies for priority projects identified in the CMP, and prepare detailed project reports and a detailed design for the ensuing project. “This will help develop the institutional capacity of the State Department for Urban Development and Poverty Reduction in pre-implementation and project preparation activities,” said an official statement issued by the Office of press information.

Watch the latest DH videos here:


Source link

]]>
https://4bubbly.com/center-signs-4-5-million-loan-agreement-with-afdb-for-a-sustainable-urban-mobility-plan-for-aizawl/feed/ 0
Finavia and NIB sign loan agreement to support Helsinki airport expansion https://4bubbly.com/finavia-and-nib-sign-loan-agreement-to-support-helsinki-airport-expansion/ https://4bubbly.com/finavia-and-nib-sign-loan-agreement-to-support-helsinki-airport-expansion/#respond Tue, 26 Oct 2021 11:26:15 +0000 https://4bubbly.com/finavia-and-nib-sign-loan-agreement-to-support-helsinki-airport-expansion/ Finavia manages and develops 20 airports in Finland. Credit: Finavia. Finnish airport operator Finavia has entered into a $ 29.02 million (€ 25 million) loan agreement with Nordic Investment Bank (NIB) to finance the expansion of Helsinki Airport Terminal 2 (HEL ). The expansion of Terminal 2 is being carried out as part of the […]]]>
Finavia manages and develops 20 airports in Finland. Credit: Finavia.

Finnish airport operator Finavia has entered into a $ 29.02 million (€ 25 million) loan agreement with Nordic Investment Bank (NIB) to finance the expansion of Helsinki Airport Terminal 2 (HEL ).

The expansion of Terminal 2 is being carried out as part of the fourth and final phase of the airport’s strategic investment program, the NIB loan having a term of 15 years.

Since 2014, the airport has been carrying out major expansion and modernization work on the site.

The total investment value for the modernization project is approximately $ 1.16 billion (€ 1 billion).

In 2015, NIB granted HEL a loan of $ 174.12 million (€ 150 million).

Finavia’s investment program aims to strengthen HEL’s competitive position and improve services.

NIB Chairman and CEO André Küüsvek said: “The development of Helsinki Airport is a long-term investment aimed at sustaining the operations of this important Nordic air traffic hub. It is also remarkable that all Finavia airports, including Helsinki Airport, are considered carbon neutral and that the company is now working on net zero emissions.

The investment program, which will increase the capacity of the airport, is expected to be completed by 2023.

Despite the Covid-19 pandemic, Finavia continued with the strategic development program for Helsinki Airport according to plan.

Last month, Finavia completed the extension of HEL’s long-haul flight area as part of the Helsinki Airport Development Program.

Finavia, 100% owned by the Finnish state, manages 20 airports in the country.

In addition, NIB is an international financial institution owned by eight member countries, namely Denmark, Estonia, Iceland, Latvia, Lithuania, Finland, Norway and Sweden.


Source link

]]>
https://4bubbly.com/finavia-and-nib-sign-loan-agreement-to-support-helsinki-airport-expansion/feed/ 0
Funds transferred on the basis of the loan agreement between the EU and Bosnia and Herzegovina https://4bubbly.com/funds-transferred-on-the-basis-of-the-loan-agreement-between-the-eu-and-bosnia-and-herzegovina-2/ https://4bubbly.com/funds-transferred-on-the-basis-of-the-loan-agreement-between-the-eu-and-bosnia-and-herzegovina-2/#respond Sat, 09 Oct 2021 14:38:00 +0000 https://4bubbly.com/funds-transferred-on-the-basis-of-the-loan-agreement-between-the-eu-and-bosnia-and-herzegovina-2/ ANI | Update: 09 October 2021 20:08 STI Sarajevo [Bosnia and Herzegovina], October 9 (ANI / FENA): The European Commission (EC) transferred funds to Bosnia and Herzegovina in the amount of EUR 124,301,000.00 on the basis of the credit line agreement between the European Union and Bosnia and Herzegovina. This is the first tranche of […]]]>



ANI |
Update:
09 October 2021 20:08 STI

Sarajevo [Bosnia and Herzegovina], October 9 (ANI / FENA): The European Commission (EC) transferred funds to Bosnia and Herzegovina in the amount of EUR 124,301,000.00 on the basis of the credit line agreement between the European Union and Bosnia and Herzegovina.

This is the first tranche of macro-financial assistance funds based on the agreement on the line of credit between the European Union and Bosnia and Herzegovina.
The Central Bank of Bosnia and Herzegovina (CBBH) will distribute according to the percentages defined in the Memorandum of Understanding between the European Union and Bosnia and Herzegovina, so that 61.5 percent of the funds will be allocated to the Federation. from Bosnia and Herzegovina, 37.5% to the entity of Republika Srpska and 1% to the Brcko district in Bosnia and Herzegovina.
The Memorandum of Understanding between the European Union and Bosnia and Herzegovina was signed with the aim of providing macro-financial assistance to enlargement and neighborhood countries, in the context of the COVID-19 pandemic crisis. Bosnia and Herzegovina has macro-financial assistance of up to € 250 million in the form of a loan. This European Union aid comes from resources obtained by the country from international financial institutions and bilateral donors in support of the stabilization and economic reform program. (ANI / FENA)


Source link

]]>
https://4bubbly.com/funds-transferred-on-the-basis-of-the-loan-agreement-between-the-eu-and-bosnia-and-herzegovina-2/feed/ 0
RE Royalties signs additional C $ 0.8 million loan agreement with Switch Power for energy storage projects in Ontario https://4bubbly.com/re-royalties-signs-additional-c-0-8-million-loan-agreement-with-switch-power-for-energy-storage-projects-in-ontario-2/ https://4bubbly.com/re-royalties-signs-additional-c-0-8-million-loan-agreement-with-switch-power-for-energy-storage-projects-in-ontario-2/#respond Tue, 05 Oct 2021 21:20:39 +0000 https://4bubbly.com/re-royalties-signs-additional-c-0-8-million-loan-agreement-with-switch-power-for-energy-storage-projects-in-ontario-2/ Receive instant alerts for news on your actions. Claim your 1-week free trial for StreetInsider Premium here. All amounts are in Canadian dollars, unless otherwise indicated VANCOUVER, BC / ACCESSWIRE / October 5, 2021 / RE Royalties Ltd. (TSXV: RE) (“RE Royalties” or the “Company”), a global leader in renewable energy royalty-based financing, has entered […]]]>

Receive instant alerts for news on your actions. Claim your 1-week free trial for StreetInsider Premium here.


All amounts are in Canadian dollars, unless otherwise indicated

VANCOUVER, BC / ACCESSWIRE / October 5, 2021 / RE Royalties Ltd. (TSXV: RE) (“RE Royalties” or the “Company”), a global leader in renewable energy royalty-based financing, has entered into a second loan agreement with Switch Power Ontario Battery Operations Corp. (“Switch OpCo”), a wholly owned subsidiary of Switch Power Corporation (“Switch Power”), for $ 786,750 (the “Second Acquisition Loan”) to finance the purchase of a portfolio of ten projects of development of battery energy storage located in Ontario (the “Development Projects”).

Development projects will have a capacity of 21 MW, and Switch OpCo will receive revenue from several sources, the majority coming from energy service agreements (“ESAs”) with building owners. As part of ESAs, Switch OpCo may receive a percentage of the cost savings generated by the batteries, primarily by reducing charges as part of the Independent Electricity System Operator’s overall adjustment program.

Development Projects will be deployed with large real estate, asset management and industrial clients. It is estimated that the portfolio will offset nearly 1,170 tonnes of CO2 per year, which is equivalent to removing more than 250 gasoline-powered cars from the road. These energy storage systems will accelerate Ontario’s transition to a decentralized, carbon-free and resilient electricity grid. For customers, they will help reduce their carbon footprint while reducing costs and unlocking further savings through optimizing the use of electricity. Development projects should be operational between summer 2022 and summer 2023.

The second acquisition loan will have a term of 23 months and will bear an interest rate of 10% per year, compounded monthly and payable at the end of the term. The Company will also receive a sliding scale royalty of between 3.5% and 5% on the gross revenues generated by development projects, once financed and constructed, for the life of the ASEs for an initial term of 10 to 15 years with extension options.

This loan is RE Royalties’ second transaction with Switch Power after the $ 2.3 million loan and royalty transaction concluded in early September for four operating projects totaling 2 MW.

Bernard Tan, CEO of the company, said: “This transaction provides RE Royalties with an excellent opportunity to continue working with Switch Power and to increase our exposure to the growing battery and energy storage market. Our company is happy to continue its relationship with Switch Power, and we look forward to working on more opportunities together in the future. “

On behalf of the Board of Directors,

Bernard Tan
CEO

About RE Royalties Ltd.

RE Royalties Ltd. acquires royalties based on revenues from renewable energy production facilities by providing a non-dilutive financing solution to private and listed companies producing and developing renewable energy. RE Royalties is the first to apply this proven business model to the renewable energy sector. The Company currently holds 87 royalties on solar, wind, storage and hydroelectric projects in Canada, Europe and the United States. The Company’s business objectives are to provide shareholders with strong and growing returns, strong capital protection, a high growth rate through reinvestment and a sustainable investment focus.

About Switch Power Corporation

Switch Power Corporation is an independent power developer and producer headquartered in Calgary, Alberta, focused on deploying capital into long-term infrastructure assets in underserved geographic and customer segments. Switch Power develops, builds, owns and operates bespoke sustainable power generation projects consisting of distributed energy resources, with inherent value propositions to customers. Switch Power currently has a 680 MW pipeline, in various geographic, technology and customer segments, with an estimated capital deployment of $ 220 million over the next 24 months.

For more information, please contact:

Investor contact:

Renmark Financial Communications Inc.
Daniel Gordon: dgordon@renmarkfinancial.com
Phone. : (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com

Media contact:

RE Royalties
Talia Beckett: taliabeckett@reroyalties.com
Phone: (778) 374‐2000
www.reroyalties.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, and there will be no offer or sale of securities in any jurisdiction in which such an offer. , solicitation or sale would be illegal. The securities offered have not been approved or disapproved by any regulatory authority and none of those authorities has passed judgment on the accuracy or sufficiency of the short form base shelf prospectus or prospectus supplement. The offering and sale of the securities has not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) or any securities law of a State and may not be offered or sold in the United States. or persons in the United States without an applicable registration or exemption from the registration requirements of the US Securities Act and applicable state securities laws.

Forward-looking statements

This press release contains forward-looking information and forward-looking statements (collectively, “forward-looking information”) concerning the Company and within the meaning of Canadian securities laws. Forward-looking information is generally identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those which, by their nature, refer to future events. This information represents forecasts and actual events or results may differ materially. Forward-looking information may relate to the future prospects of the Company and anticipated events or results and may include statements regarding the Company’s financial results, future financial condition, expected growth in cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, goals, industry trends and growth opportunities, including financing. The reader is encouraged to consult the most recent Company documents on SEDAR for a more complete discussion of all applicable risk factors and their potential effects, copies of which can be viewed through the Company’s profile page at ‘address www.sedar.com.

THE SOURCE: RE Royalties Ltd.

See the source version on accesswire.com:
https://www.accesswire.com/666763/RE-Royalties-Enters-into-Additional-CAD-08-Million-Loan-Agreement-with-Switch-Power-for-Energy-Storage-Projects-in-Ontario


Source link

]]>
https://4bubbly.com/re-royalties-signs-additional-c-0-8-million-loan-agreement-with-switch-power-for-energy-storage-projects-in-ontario-2/feed/ 0
RE Royalties signs additional C $ 0.8 million loan agreement with Switch Power for energy storage projects in Ontario https://4bubbly.com/re-royalties-signs-additional-c-0-8-million-loan-agreement-with-switch-power-for-energy-storage-projects-in-ontario/ https://4bubbly.com/re-royalties-signs-additional-c-0-8-million-loan-agreement-with-switch-power-for-energy-storage-projects-in-ontario/#respond Tue, 05 Oct 2021 21:15:00 +0000 https://4bubbly.com/re-royalties-signs-additional-c-0-8-million-loan-agreement-with-switch-power-for-energy-storage-projects-in-ontario/ All amounts are in Canadian dollars, unless otherwise indicated VANCOUVER, BC / ACCESSWIRE / October 5, 2021 / RE Royalties Ltd. (TSXV: RE) (“RE Royalties” or the “Company”), a global leader in renewable energy royalty-based financing, has entered into a second loan agreement with Switch Power Ontario Battery Operations Corp. (“Switch OpCo”), a wholly owned […]]]>

All amounts are in Canadian dollars, unless otherwise indicated

VANCOUVER, BC / ACCESSWIRE / October 5, 2021 / RE Royalties Ltd. (TSXV: RE) (“RE Royalties” or the “Company”), a global leader in renewable energy royalty-based financing, has entered into a second loan agreement with Switch Power Ontario Battery Operations Corp. (“Switch OpCo”), a wholly owned subsidiary of Switch Power Corporation (“Switch Power”), for $ 786,750 (the “Second Acquisition Loan”) to finance the purchase of a portfolio of ten projects of development of battery energy storage located in Ontario (the “Development Projects”).

Development projects will have a capacity of 21 MW, and Switch OpCo will receive revenue from several sources, the majority coming from energy service agreements (“ESAs”) with building owners. As part of ESAs, Switch OpCo may receive a percentage of the cost savings generated by the batteries, primarily by reducing charges as part of the Independent Electricity System Operator’s overall adjustment program.

Development Projects will be deployed with large real estate, asset management and industrial clients. It is estimated that the portfolio will offset nearly 1,170 tonnes of CO2 per year, which is equivalent to removing more than 250 gasoline-powered cars from the road. These energy storage systems will accelerate Ontario’s transition to a decentralized, carbon-free and resilient electricity grid. For customers, they will help reduce their carbon footprint while reducing costs and unlocking further savings through optimizing the use of electricity. Development projects should be operational between summer 2022 and summer 2023.

The second acquisition loan will have a term of 23 months and will bear an interest rate of 10% per year, compounded monthly and payable at the end of the term. The Company will also receive a sliding scale royalty of between 3.5% and 5% on the gross revenues generated by the development projects, once financed and constructed, for the life of the ASEs for an initial duration of 10 to 15 years with extension options.

This loan is RE Royalties’ second transaction with Switch Power after the $ 2.3 million loan and royalty transaction concluded in early September for four operating projects totaling 2 MW.

Bernard Tan, CEO of the company, said: “This transaction provides RE Royalties with an excellent opportunity to continue working with Switch Power and to increase our exposure to the growing battery and energy storage market. Our company is happy to continue its relationship with Switch Power, and we look forward to working on more opportunities together in the future. “

On behalf of the Board of Directors,

Bernard Tan
CEO

About RE Royalties Ltd.

RE Royalties Ltd. acquires royalties based on revenues from renewable energy production facilities by providing a non-dilutive financing solution to private and listed companies producing and developing renewable energy. RE Royalties is the first to apply this proven business model to the renewable energy sector. The Company currently holds 87 royalties on solar, wind, storage and hydroelectric projects in Canada, Europe and the United States. The Company’s business objectives are to provide shareholders with strong and growing returns, strong capital protection, a high growth rate through reinvestment and a sustainable investment focus.

About Switch Power Corporation

Switch Power Corporation is an independent power developer and producer headquartered in Calgary, Alberta, focused on deploying capital into long-term infrastructure assets in underserved geographic and customer segments. Switch Power develops, builds, owns and operates bespoke sustainable power generation projects consisting of distributed energy resources, with inherent value propositions to customers. Switch Power currently has a 680 MW pipeline, in various geographic, technology and customer segments, with an estimated capital deployment of $ 220 million over the next 24 months.

For more information, please contact:

Investor contact:

Renmark Financial Communications Inc.
Daniel Gordon: dgordon@renmarkfinancial.com
Phone. : (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com

Media contact:

RE Royalties
Talia Beckett: taliabeckett@reroyalties.com
Phone: (778) 374‐2000
www.reroyalties.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, and there will be no offer or sale of securities in any jurisdiction in which such an offer. , solicitation or sale would be illegal. The securities offered have not been approved or disapproved by any regulatory authority and none of those authorities has passed judgment on the accuracy or sufficiency of the short form base shelf prospectus or prospectus supplement. The offering and sale of the securities has not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) or any securities law of a State and may not be offered or sold in the United States. or persons in the United States without an applicable registration or exemption from the registration requirements of the US Securities Act and applicable state securities laws.

Forward-looking statements

This press release contains forward-looking information and forward-looking statements (collectively, “forward-looking information”) concerning the Company and within the meaning of Canadian securities laws. Forward-looking information is generally identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those which, by their nature, refer to future events. This information represents forecasts and actual events or results may differ materially. Forward-looking information may relate to the future prospects of the Company and anticipated events or results and may include statements regarding the Company’s financial results, future financial condition, expected growth in cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, goals, industry trends and growth opportunities, including financing. The reader is encouraged to consult the most recent Company documents on SEDAR for a more complete discussion of all applicable risk factors and their potential effects, copies of which can be viewed through the Company’s profile page at ‘address www.sedar.com.

THE SOURCE: RE Royalties Ltd.

See the source version on accesswire.com:
https://www.accesswire.com/666763/RE-Royalties-Enters-into-Additional-CAD-08-Million-Loan-Agreement-with-Switch-Power-for-Energy-Storage-Projects-in-Ontario


Source link

]]>
https://4bubbly.com/re-royalties-signs-additional-c-0-8-million-loan-agreement-with-switch-power-for-energy-storage-projects-in-ontario/feed/ 0
Tesla appears to have repaid its $ 1.4 billion China loan deal for Giga Shanghai earlier https://4bubbly.com/tesla-appears-to-have-repaid-its-1-4-billion-china-loan-deal-for-giga-shanghai-earlier/ https://4bubbly.com/tesla-appears-to-have-repaid-its-1-4-billion-china-loan-deal-for-giga-shanghai-earlier/#respond Tue, 05 Oct 2021 20:18:47 +0000 https://4bubbly.com/tesla-appears-to-have-repaid-its-1-4-billion-china-loan-deal-for-giga-shanghai-earlier/ In December 2019, Tesla was awarded a $ 1.4 billion loan Chinese banks for Giga Shanghai. The five-year loan was partially used to renew previous debts. The rest of the money would go to Giga Shanghai and Tesla China operations. The interest rate was set at 90% of China’s benchmark one-year interest rate. And now […]]]>

In December 2019, Tesla was awarded a $ 1.4 billion loan Chinese banks for Giga Shanghai. The five-year loan was partially used to renew previous debts. The rest of the money would go to Giga Shanghai and Tesla China operations. The interest rate was set at 90% of China’s benchmark one-year interest rate.

And now it looks like Tesla has paid off the loan in full, thanks to the documents Twitter user “JPR007” retrieved. He pointed to Tesla’s record in the second quarter of 2021, which no longer shows the $ 1.4 billion loan or part of it – removing the post altogether. It also means that all restrictions on Tesla associated with these loans have ended.

In his discussion thread, he explained that China’s loan facility had a balance of $ 614 million as of March 31, 2021. As of December 31, 2020, the balance was $ 616 million. Based on its findings, it appears Tesla paid off the $ 1.4 billion loan announced in 2019 in full within 16 months.

“And it was repaid by the Shanghai company from internally generated funds even during construction and expansion of the plant.”

You can read the full thread of JPR007 here. It wouldn’t be the first time Tesla has paid off debts earlier. In 2010, Tesla received a loan from the US Department of Energy. The amount was $ 465 million. He was paid 9 years earlier. Even today, many still criticize Tesla for simply taking the loan while not realizing or acknowledging the fact that Tesla paid off that loan years ago when Ford apparently never paid off its loan from same program. CleanTechnicaZach Shahan writes: “Ford never paid off his loan. Nissan repaid its loan in 2017. Tesla repaid its to lend in 2013, 9 years ahead. Fisker defaulted and went bankrupt.

“Ford’s loan was $ 5.937 billion. Nissan’s was $ 1.448 billion. Tesla was $ 0.465 billion. Fisker was $ 0.529 billion. (Note also that the US federal government spent $ 50.35 billion to bail out GM at that time, and $ 17.6 billion to bail out Fiat-Chrysler. “

Tesla’s story certainly shows us one thing: it is good at paying off loans.

Do you appreciate the originality of CleanTechnica? Consider becoming a CleanTechnica Member, Supporter, Technician or Ambassador – or Patron on Patreon.


Advertising



Got a tip for CleanTechnica, want to advertise or suggest a guest for our CleanTech Talk podcast? Contact us here.



Source link

]]>
https://4bubbly.com/tesla-appears-to-have-repaid-its-1-4-billion-china-loan-deal-for-giga-shanghai-earlier/feed/ 0
IDBI signs joint loan agreement with UGRO Capital https://4bubbly.com/idbi-signs-joint-loan-agreement-with-ugro-capital/ https://4bubbly.com/idbi-signs-joint-loan-agreement-with-ugro-capital/#respond Sun, 03 Oct 2021 21:10:19 +0000 https://4bubbly.com/idbi-signs-joint-loan-agreement-with-ugro-capital/ BSE is MSME, UGRO has entered into a joint loan agreement with IDBI Bank to provide formal credit to underserved MSMEs at affordable rates. “A leveraging partnership UGRO Capitals In addition to the in-depth understanding of the company’s industry and the scope of multi-channel delivery, the agreement states that it is a data tripod-driven digital […]]]>

BSE is MSME, UGRO has entered into a joint loan agreement with IDBI Bank to provide formal credit to underserved MSMEs at affordable rates.

“A leveraging partnership UGRO Capitals In addition to the in-depth understanding of the company’s industry and the scope of multi-channel delivery, the agreement states that it is a data tripod-driven digital technology platform comprised of GST, Banking & Office.

U GRO Capital built the GRO-Xstream platform. It integrates with one bank and several banks via the API. FinTechs, Payment platforms, NBFC, NeoBanks, Marketplaces and other digital platforms.

“In the early stages, Bank Through this platform, we plan to co-lend with loans initiated by U GRO Capital’s distribution network, but in the future, other participants on the platform will also have access to capital through this platform. “Declared.

“Once fully functional, the GRO – Xstream platform has the power to free up and democratize MSME credit. India By leveraging the bank’s prowess on the debt side and the underwriting engine on the capital side of UGRO, origination partners and assets. “

Suresh Khatanhar, Deputy Managing Director of IDBI Bank, said together with Shri Rajeev Kumar, Executive Director of Agriculture at MPME & Retail Banking at IDBI Bank, about the partnership: In the case of MSMEs in India, the platform U GRO not only creates loans through the distribution engine, but also several other FinTechs and NBFC Who can access capital through this integration? IDBI Bank is committed to contributing to the mission of Atmanirbhar Bharat by accelerating credit to MSMEs in India and making credit available to MSMEs at an affordable price. “

Shachindra Nath, Executive Chairman and Managing Director of U GRO Capital, said of the development: IDBI Bank.. We are seeing an increased utility of data tripods: the inflection point for MSME loans by GST, banks and bureaus. Such collaboration further facilitates the financial inclusion efforts of MSMEs in India. “

“This arrangement is with the expertise of the sector Technology.. This partnership will not only benefit U GRO, but ultimately all the other FinTechs and NBFCs integrated into the GRO-Xstream platform. We look forward to fostering this relationship in order to support more MSMEs and enable their resurrection and growth, ”added Nath.

It first appeared on TechGraph after IDBI signed a joint loan agreement with UGRO Capital.

IDBI signs joint loan agreement with UGRO Capital

Source link IDBI signs joint loan agreement with UGRO Capital


Source link

]]>
https://4bubbly.com/idbi-signs-joint-loan-agreement-with-ugro-capital/feed/ 0
AB Transitio and EIB sign loan agreement for new regional trains https://4bubbly.com/ab-transitio-and-eib-sign-loan-agreement-for-new-regional-trains/ https://4bubbly.com/ab-transitio-and-eib-sign-loan-agreement-for-new-regional-trains/#respond Fri, 17 Sep 2021 07:00:00 +0000 https://4bubbly.com/ab-transitio-and-eib-sign-loan-agreement-for-new-regional-trains/ The new trains are expected to offer improved service, reliability, comfort and flexibility, as well as increased capacity. Credit: Daniel Moqvist on Unsplash. Swedish company AB Transitio has signed a loan agreement of 55.71 million dollars (480 million Swedish crowns) with the European Investment Bank (EIB) for the purchase of new regional trains. The loan […]]]>
The new trains are expected to offer improved service, reliability, comfort and flexibility, as well as increased capacity. Credit: Daniel Moqvist on Unsplash.

Swedish company AB Transitio has signed a loan agreement of 55.71 million dollars (480 million Swedish crowns) with the European Investment Bank (EIB) for the purchase of new regional trains.

The loan amount will be used to acquire 12 new Electric Double-Decker Multiple Units (EMUs) which will offer regional services with Mälardalstrafik MÄLAB AB in the Stockholm-Mälaren region.

By replacing aging rolling stock, new trains are expected to offer increased service, reliability, comfort, flexibility and capacity.

They will be owned by Transitio and will be operated by Mälardalstrafik MÄLAB AB on the regional routes surrounding the Swedish capital.

EIB Vice-President Thomas Östros said: “As the EU’s climate bank, the EIB is investing heavily in alternative modes of transport to get people to leave their cars at home as much as possible.

The new units are expected to provide sustainable transportation to commuters, offering an incentive to move away from road traffic.

Transitio CEO Magnus von Bahr said: “The acquisition of 12 additional double-decker trains will further increase the capacity of regional services in the Stockholm-Mälaren region and support the mission of increasing train travel.

In addition, the new trains will reduce operating and maintenance expenses for the operator.

Based on the trend observed between 2017 and 2019, the number of commuters is also expected to increase again, giving more reason to increase train capacity.

AB Transitio buys, finances and administers trains for the Swedish public transport associations, which mutually own Transitio in joint ownership.

Transitio mainly rents trainsets from these regional public transport associations and / or their operators.

In May this year, the EIB signed a $ 182 million (€ 150 million) financing contract with the Indian government for the second part of the Pune metro rail project in Maharashtra at a ceremony virtual signature.


Source link

]]>
https://4bubbly.com/ab-transitio-and-eib-sign-loan-agreement-for-new-regional-trains/feed/ 0