Its PPA with IID requires power sales to begin by 30 June 2011. GreenHunter has made progress towards stabilising its financial condition. Subsidiary GreenHunter Biofuels renegotiated financing terms with German commercial bank WestLB, giving it some breathing room. It also brought on an investment banking firm to explore the possible sale or other options of its Houston refinery. "We feel that we are methodically working through our very tight capital issues with a specific game plan that should allow for future opportunities within the renewable space," Evans said on 14 August.
Power-purchase deal may save GreenHunter
GreenHunter Energy, a diversified renewable- energy player, has been in "survival mode" since last year. However, a power-purchase agreement (PPA) announced last week for its Mesquite Lake biomass plant in California offers hope for viability.
10 September 2009 22:00 GMT
Updated
25 November 2012 10:12 GMT
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