US company to finance energy projects in Pakistan

[Naveed Yaseen]

NEW YORK: Bergamo Acquisition Corp a publicly traded US company announced that agreement on all terms with its lender to finance energy projects for Pakistan has been completed. The value of all projects is $1.5 billion.

President and CEO of Bergamo Acquisition Corp, Hillard Herzog will travel to Pakistan to sign the contracts.

The projects have expanded in scope. In addition to the clean coal plant and the LED high efficiency lighting mentioned previously, financing now includes several solar lighting facilities. The first of these solar lighting facilities is anticipated to be operational within 90 days after signing of all agreements.

Herzog commented, “Clean energy is very important to the people of Pakistan. I am very pleased that we have been able to work with President Zardari, Chief Minister Sindh and Minister for Water & Power, meeting this most urgent need. Abundant clean energy is needed as Pakistan continues to modernize its infrastructure.”

http://www.thenews.com.pk/daily_detail.asp?id=181469