SOURCE: Energiz Renewable Inc.

Energiz Renewable Inc.

October 21, 2014 08:30 ET

ERIP Proposed Transaction Valued at EUR 48 Million or $61.4 Million

KEYPORT, NJ--(Marketwired - Oct 21, 2014) - Energiz Renewable Inc. (PINKSHEETS: ERIP) today announced it has entered into a Letter of Intent with Helios Power along with Archfeld LLP as an agent to Sellers to purchase six turnkey projects operational connected to the grid producing a total of 17.842 MWp, located in 6 different locations in Bulgaria for EUR 48 million Euro or equivalent in US dollars $61.4 million (the "Purchase Price") for the purchase of all the Assets. David Brown, Chairman of ERIP stated "that the acquisition of Helios an operating profitable business will fit in with our strategic plan in the region that currently includes both Turkey and Bulgaria."

About Energiz Renewable Inc.
ERIP objective is to become the leading global renewable energy company ERIP will achieve this vision with a strategic plan that controls solar energy creation and selling process end-to-end in key markets. By managing and controlling costs in all aspects of the chain, from the manufacturing of photovoltaic panels through selling the electricity to the grid, ERI will have positive cash flow within a reasonable timeframe. This model will lend itself to expand horizontally into other renewable energy technologies.

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Certain statements made in this news release are forward-looking in nature and, accordingly, are subject to risks and uncertainties. These forward-looking statements are only predictions based on our current expectations and projections about future events. Important factors could cause our actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements.

Contact Information

  • Corporate Contact:
    David Brown
    Email: Email Contact
    Skype: DavidSettler


    Edward T. Whelan
    Email: Email Contact
    Skype: EdTWhelan