GREEN IMPACT PARTNERS INC. ANNOUNCES CLOSURE OF NON-RECOURSE PROJECT-LEVEL FUNDING FOR GNR GREENGAS COLORADO PROJECT
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VANCOUVER, BC, January 4, 2022 / CNW / – Green Impact Partners Inc. (“GIP“or the”Society“) is pleased to announce the completion of non-recourse project debt financing for its first renewable natural gas (“RNG“), the GreenGas Colorado RNG Project (the”GreenGas Colorado RNG project“) situated in Weld County, Colorado. Non-recourse project debt financing is provided by a lender in United States and includes both a construction credit facility and a term loan of up to $ 48 million. The construction facility bears interest at the prime rate + 2.75%. The term loan facility is fully amortized over six years and bears interest at prime rate + 1.00%. The construction and term loan facility includes customary covenants, terms and conditions without recourse against GIP.
Construction of the GreenGas Colorado RNG project is progressing well and the project continues to be on time and on budget with gas production expected in early 2023. Ground work is nearing completion and work is now beginning on the above-ground structures. The GreenGas Colorado RNG project has a fixed price EPC contract and is expected to cost around $ 90 million, including financing, debt service reserve and incidentals, with approximately $ 29 million invested to date. When operating at full production, the GreenGas Colorado RNG project is expected to generate approximately $ 20 million per year in EBITDA based on an independent third party forecast and cautious RNG production figures.
Jesse douglas, CEO and Director, said, “Completing this debt financing project is another important milestone as we continue our strategy of building, owning and operating to bring the cleanest energy to market in Canada. world through our growing portfolio of RNG projects. With all major contracts completed and financing completed, we are ramping up construction activities to produce RNG as soon as possible. This project is expected to generate 1,000 GJ per day of RNG, which is equivalent to powering approximately 6 million cars per year, on a net zero basis, providing an environmental impact. “
About Green Impact Partners
GIP is a clean energy company listed on the TSX Venture Exchange. GIP is focused on driving the transition to a green and sustainable economy through a strategy focused on RNG. GIP seeks to be influential partners in a green and more sustainable future by leveraging cutting-edge technology to reuse by-products into clean energy via RNG and other value-added substances.
This press release contains forward-looking statements and / or forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. When used in this release, words such as “would”, “will”, “anticipate”, believe “,” explore “and similar expressions, with respect to GIP or its direction, are intended to identify such forward-looking statements. These forward-looking statements reflect GIP’s current views with respect to future events, and are subject to certain risks, uncertainties and assumptions. Many factors could cause GIP’s actual results, performance or achievements to differ materially from expected future results, performance or achievements that may be expressed or implied by such forward-looking statements. These forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to: the impact of general economic conditions in Canada and United States, including the ongoing COVID-19 pandemic; industry conditions, including changes in laws and regulations and / or the adoption of new environmental laws and regulations and changes in the way they are interpreted and applied, in Canada and United States; volatility of energy commodity prices; evolution of the demand for clean energy proposed by the GIP; competetion; lack of availability of qualified personnel; obtain the required approvals from regulatory authorities, including Canada and United States; ability to access sufficient capital from internal and external sources; many of which are beyond the control of the GIP. The forward-looking statements included in this press release should not be interpreted as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those implied by such forward-looking statements.
Readers are encouraged to carefully review and consider the risk factors relating to BIPs described in BIP’s statement of deposit dated May 17, 2021, accessible on GIP’s SEDAR sender profile at the address www.sedar.com. The forward-looking statements contained in this press release are made as of the date of this press release, and except as expressly required by law, GIP disclaims any intention, obligation or commitment to publicly release any update or revision to any statements contained herein. document, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
GIP’s management has included the above summary of the assumptions and risks associated with forward-looking statements provided in this press release in order to provide shareholders with a more complete perspective on GIP’s current and future operations and such information may not be appropriate to other purposes. GIP’s actual results, performance or achievements could differ materially from those expressed or implied by these forward-looking statements and, therefore, no assurance can be given that any of the events anticipated by the forward-looking statements will or will occur. , or if one of them does, what benefits GIP will derive from it.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.
SOURCE Green Impact Partners
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