Pamlico has completed a Power Purchase Agreement with Dominion North Carolina Power Resources.
The financing of the project is through the Federal Investment Tax Credit for 30% of the project costs, the North Carolina Tax Credit for 35% of the project cost, in addition to depreciation and the sale of Renewable Energy Credits. The total 5 MW project when completed will be
The project is expected to be completed by
FrankKristan, President of
"We are very pleased with our investment in Pamlico Energy. We have strong partners on this project will provide dividends for our shareholders and increase our asset base.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those expressed or implied in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the
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