SCOTTSDALE, AZ - (NewMediaWire) - August 4, 2015 - Sunergy, Inc. ("Sunergy" or "the Company") (OTC PINK: SNEY) has yesterday submitted our official Expression of Interest to build, finance, operate and own solar Power projects in Liberia over the next 1 1/2 years. The funding required for the project is approximately $100 million US dollars. A more detailed cost will be confirmed during preparation of the project feasibility study.
Our Consortium is prepared to offer development and financing for the project through a Power Purchase Agreement ("PPA") and sovereign guarantee or implementation agreement, contingent on the project location and requirements, the competency of design and construction contract documents as well as mutually agreeable terms and conditions. The financing has the added benefit that it is fast to procure and is done without any dilutive effect on Sunergy's shares.
Our partner has offices in Northern California, (USA) and Washington, DC (USA), and is an Independent Power Producer ("IPP") with the mission to develop, finance, own, and manage (operations and maintenance) World-class solar energy facilities. They are actively developing responsible energy projects across the USA, Mexico, Japan and Africa with the flexibility to apply best-of-breed solar energy solutions to specific locations and requirements. They contribute the essential development expertise with regional market knowledge to apply proven solar technologies, EPC management with optimal project financing, and on-going asset management for each location and customer, while mindfully developing projects for environmental responsibility, with optimal local community benefits.
The finance offer is a total development solution encompassing development of existing feasibility studies, finance, and project development through the engineering, procurement and construction model. The offer also includes operation and maintenance. Our partner is an active supporter of the White House Power Africa Initiative. US President Barack Obama announced the initiative whose goal is to double access to electricity in sub-Saharan Africa. The United States government has made an initial commitment of more than $7 billion to finance projects, which has been matched by more than $9 billion of US private industry investment. Our Consortium is actively engaged with the Power Africa leadership and will utilize these funds for any project financing strategy pursued in Liberia.
The infrastructure development will be undertaken through a Liberia special purpose vehicle (SPV) with both foreign and local shareholding. This latter vehicle will be responsible for financing the projects and debt repayment. LEC will be responsible for debt repayment through power purchase arrangements. We also propose building a solar training institute ("Solar Academy") as a stand-alone institution or in conjunction with an existing education facility. This Academy will be built by GBG, our building partner discussed below.
Our building partner, Global Builders Group, Inc. ("GBG"): Recent visits to Ghana, Cameroon, Togo and Cote d'Ivoire have resulted in GBG establishing its West Africa Headquarters at an 86,000 sq. ft. industrial complex about 30 miles from the Tema Port facility adjacent to Accra, Ghana. This facility is under renovation and will contain a housing manufacturing factory, a cabinet and window manufacturing facility and a full machine shop for the manufacturing of fittings and items for sale to the construction industry locally and in neighboring Togo, Benin, Cote d'Ivoire and Liberia. GBG is currently in Joint venture development with partners in Ghana, Togo, Cote d'Ivoire, Cameroon, Nigeria and Liberia. Both trucking and shipping by sea of our manufactured products is efficiently enabled by this great location.
In addition to its building and housing construction business, GBG has become a registered Reseller of mobile oil refinery equipment with Refinery Equipment of Texas of Houston,Texas. www.reftexas.com. Ref Texas is a multi-million dollar global supplier of patented mobile oil refinery and modular power equipment that is capable of taking a feed of crude oil direct from wells in the field and producing either gas or diesel directly for immediate field use to run vehicles, power plants and even aircraft. Modules are capable of volumes ranging from 100 to 12,000 barrels per day. GBG has the ability to Re-sell this equipment globally. Currently, opportunities are being pursued by their on ground representatives in Ghana, Nigeria, DRC and Equatorial Guinea. Sunergy is a founding shareholder of GBG. More info on GBG can be found at www.globalbuildersgroupinc.com
About Sunergy: A Favorable Update on NMA Activities in Sierra Leone, after a successful recent trip by management, will be forthcoming.
Sunergy Inc. (OTC PINK: SNEY), a Nevada corporation, is a junior mining company headquartered in Scottsdale, Arizona. The Company has made a transition from an exploration only company to a company currently focused on production and cash flow. We have acquired a wash plant and loader in Liberia, capable of handling between 50 to 350 tons per hour of diamond and gold bearing gravels, which is now being shipped to Sierra Leone, under an appropriate license from NMA in Sierra Leone, for its operation. In addition to our core mining activities, the Company has developed considerable relationships over the past four years which has enabled the procurement of non-mining partnerships and agency agreements with major international businesses representing Airport Security, Affordable Housing projects and Solar energy projects in the eight West Africa Countries of Ghana, Sierra Leone, Liberia, Nigeria, Togo, Cote d'Ivoire, The Gambia and Senegal. For more information, please visit www.sunergygold.com
Regarding Forward-Looking Statements This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any mineralization or cash flow from Sierra Leone and Liberian mining operations. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.