Rusty no dusty maybe, not much humidly in Mexico.
You can't find a more transparent company then SNPW.
You seem to forget SNPW is not the primary partner of the project and SNPW has no control when the project will or when the project will actually start.
SNPW has no financial stake in the funding of the project, while they very well may have shovels in the ground ready to go but they can not start until the MONEY and the Mexican government gives them the ok to start.
It has always been SED project not SNPW project. SNPW has only provided updates to shareholders as SED provided them to SNPW.
You can't find a more transparent company then SNPW.
You seem to forget SNPW is not the primary partner of the project and SNPW has no control when the project will or when the project will actually start.
SNPW has no financial stake in the funding of the project, while they very well may have shovels in the ground ready to go but they can not start until the MONEY and the Mexican government gives them the ok to start.
It has always been SED project not SNPW project. SNPW has only provided updates to shareholders as SED provided them to SNPW.
Quote:May 6 2020
Sun Pacific Holding Corp subsidiary proposed solar project in Durango also continues to make forward progress. The proposed solar farm to be located in Durango, Mexico has been expanded to 50 Megawatts. Power Purchase agreements and letters of intent with future users have been entered into that exceed the operating capacity of the proposed solar farm. Proforma financial information and plans for up to $90 million in funding have been circulated to several interested parties for review and due diligence with the Company through a wholly owned subsidiary has proposed an increase in its initial ownership equity position of thirty five percent of the project’s operating company as part of its development efforts.
Quote:Jan 8, 2021
Sun Pacific Holding Corp
@SunPacificPower
Durango Mexico, SEDI signs LOI with EPC on the development of its 50 MW solar farm, and after land agreement procured. One of the many steps, those who ask what's the status? Things don't happen overnight and if you want that don't ask! We are doing!
Quote:May 7th - On May 7, 2021, Banco Bilbao Vizcaya Argentaria, S.A. (“BBVA”) presented the finance partner on the Durango Mexico 50-megawatt photovoltaic facility (the “Project”), with a $40 million dollar commitment letter for a Bank Guarantee/Standby Letter of Credit on behalf of the EPC partner as security for permanent financing on the Project. Although this does not obligate the Company in anyway nor does it guarantee that the Project will be financed and completed, management believes this to be a positive step in securing the role of National Mechanical Corp. in the Project.
Quote:Sun Pacific Holding Corp
@SunPacificPower
Jul 25, 2022
SNPW working with local partners in Mexico for its Durango solar farm while legislation is being addressed, we will have more updates in the coming months as Mexican government adopts regulations needed to proceed
