The U.S. company is said to be currently completing its due diligence on the individual assets, systems and operations as the first acquisition under its recently announced Solar Energy Acquisition and Development Project – the first official project of the company's diversification strategy. It will be issuing formal updates as the review and integration process progresses and anticipates a formal closing on the LOI within the next 30 days.
The Solar Energy Acquisition and Development Project is the first major acquisition and development project under Hybrid Energy Holding's New Energy Initiative, which calls for "the aggressive investment in, acquisition of and development of nascent ‘New Energy' technologies Intellectual Property assets and operations in the Clean Energy, Energy Smart Technologies and Carbon Capture & Storage sectors of the Energy Sector".
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