Tibbar Energy USVI, LLC is seeking a $3.5 million Bridge Loan to provide required bonds and an insurance policy for final design as required in lease agreements with WAPA and VIPA, and to bring current critical outstanding vendor payments required for close. The project involves developing a biomass/biogas Renewable Energy project on St. Croix, USVI, with a secured Power Purchase Agreement with WAPA for 7MW of power for 25 years. The total project CAPEX is $112 million, with a funding approach of 75% debt and 25% equity. Tibbar has secured various agreements and is in the process of finalizing long-term debt financing with the USDA RUS Energy Loan Program.
documents/EFTA00607081.pdf
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