Resource Ventures plans to acquire 2.7 MW of solar plants in Slovakia

(SeeNews) - Mar 22, 2013 - US electrical power producer Resource Ventures Inc (PINK:REVI) has signed a letter of intent (LoI) to buy 2.7 MW of solar power capacity in Slovakia from a Czech renewable energy firm, the name of which was not given.

REVI said in a press release on Thursday its unit, Global Energy Management Ltd, would pay EUR 2.8 million (USD 3.6m) and assume EUR 6.2 million of debt as part of the potential purchase of plants in central Slovakia. The acquisition is awaiting a successful completion of due diligence.

The facilities have an annual net cash flow of EUR 1.7 million.

(EUR 1.0 = USD 1.3)

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