|By PR Newswire||
|August 12, 2014 06:00 PM EDT||
NEW YORK, Aug. 12, 2014 /PRNewswire/ -- Pan Global Corp. (OTCQB: PGLO) recently announced that the 5.7MW small-hydro plant the Company is in the process of acquiring northern India Project Badyar through its staggered acquisition of Regency Yamuna Energy Limited RYEL has been connected to the power grid.
Final construction of Project Badyar, according to RYEL, has been divided into two final stages pre-commercial operation date Pre-COD and post-commercial operation date Post-COD. RYEL management has notified the Company that Pre-COD major construction works have been completed. RYEL management is now undertaking testing, certification and other activities in connection with achieving commercial operations. The certification process includes receipt of certificates of completion and operation from the state government and RYEL's engineers and suppliers based on standard industry testing parameters. Connection to the power grid is part of the process leading to the determination that COD has been achieved. Power generation is scheduled to begin as each of the plant's two turbine engines is tested, first separately and then jointly.
Despite the recent news as of today at 2:00 pm EDT the stock has still has seen a fall in the price per share of more than 25%.
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