News it out...PPA
The major terms of the tariff agreement include:
-- An initial tariff for the first year of the Power Project plant operation; and -- A weighted average tariff for the remaining 24 years of power plant operation.
The Company is pleased to announce that the tariff numbers are in-line with PPG's final proposal submission to the Working Group in February 2013.
Prophecy believes that the Tariff Agreement is a major catalyst that could lead to the Company:
-- Concluding the PPA with the Working Group in an expedited manner; -- Finalizing joint venture discussions with several major Independent Power Plant ("IPP") enterprises, whereby the Company is targeting a significant infusion of capital and expertise from IPP partner(s); and -- Advancing final selection of an Engineering, Procurement and Construction ("EPC") turnkey contractor for the Power Project.