Business
Option Agreement: International Energy Developer
Option Agreement: International Energy Developer.
About this update from Cindrigo Holdings Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 0066U\n Cindrigo Holdings Limited\n 30 November 2021\n \n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY, WITHIN, INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.\n \n \n \n \n \n 30 November 2021\n \n \n \n \n \n Cindrigo Holdings Limited\n \n \n (\"Cindrigo\" or the \"Company\")\n \n \n \n \n \n \n \n \n Cindrigo signs Option Agreement in respect of International Energy Developer\n \n \n \n \n \n \n \n \n Cindrigo is pleased to announce that, in line with its strategy to broaden its business to new energy sectors and geographies, it has signed an Option Agreement to give it the right, if exercised, to acquire the entire issued share capital of Energy Co-invest Global Corp (\"ECG\"), an international energy developer with a broad base of projects within the renewable-energy sector.\n \n \n \n \n \n Value creation by Cindrigo is intended to be driven by the efficient use of resources consistent with the Company's core expertise in leading projects as a developer that result in its development as an Independent Power Producer (\"IPP\") specifically in plants providing steam driven baseload power. This will be achieved, firstly, by expanding geographically with waste-to-energy (\"WTE\") assets, and also by evaluating expansion in the steam driven baseload power from geothermal power sub-sector. \n \n \n \n \n \n By driving further value from the same expertise and resources, the Company intends to broaden its revenue base into complementary high value markets and sectors.\n \n \n \n \n \n Energy Co-invest Global\n \n \n \n \n \n ECG has rights and intellectual property related to several Renewable Energy projects and operations globally. \n \n \n \n \n \n In the WTE power plant sector, ECG has several development projects that could be a natural fit for Cindrigo. In addition, ECG has involvement in several geothermal projects including being the largest shareholder of GEG Power ehf.. (\n \n \n www.gegpower.is\n \n \n ) (\"GEG\") an Icelandic Engineering Procurement Contractor that is well advanced in its transformation into an IPP. GEG's origins, patents and intellectual property benefitted from the successful completion of sixteen power plants of over 85MW, along with substantial infrastruc...