As Panchabuta had reported earlier this year, Bergamo Acquisition Corp (OTC:BGMO) had announced that the Company had come to terms for three hybrid solar thermal power plants totaling 200 megawatts to be located in India. Bergamo Acquisition Corp’s subsidiary in India, Bergamo Harbinsons, had handled the negotiations. Bergamo was to receive a ten percent fee to be paid upfront. The payments will come in the form of irrevocable letters of credit totaling approximately $77.5 million USD said the company.
However in an announcement yesterday, Bergamo Acquisition Corp (OTC:BGMO) informed that it has seen its schedule of anticipated announcements temporarily pushed back.
The Company anticipates a formal confirmation of the previously announced funding will come very shortly, which will include the name of the bank and a bank statement with the initial deposit.
The Company also anticipates that it will be able to update investors on several fronts including the announced Hybrid Solar Thermal Plant projects and the achievements as announced earlier.
The Company has informed that the Management will be leaving for India next week and that this will be the fourth time Bergamo management has traveled to India in the past 90 days for this process. Traveling with Bergamo management will be senior management of the California-based company that will be instrumental in several of the hybrid solar thermal plant projects.