GreenBug accepts all pre-development risk. If for some reason, the project does not proceed to contruction because environmental approvals could not be obtained, etc, GreenBug bears the costs incurred to that point. GreenBug also accepts all implementation risk on construction of the project. If costs to develop the site are higher than projected GreenBug bears … Read more
You will be notified and the lease becomes null and void.
We will try again in the next FIT application window. If at some point we determine that we will not be able to obtain a FIT contract, you will be notified and the lease will become null and void.
You will be notified and the lease becomes null and void.
After a FIT contract has been awarded and after all approvals have been obtained and after a detailed project plan has been prepared and the project is “shovel ready”, the final project plan will be provided and you will have a certain amount of time to respond and make your investment.
If you wish to invest further in the project another entity has to be created to allow that investment. Therefore the lease provides a provision that allows the lease to be transferred to a limited partnership which GreenBug owns a minimum 25% of. This new entity will then apply for the FIT contract and own … Read more
Total project cost x % of the equity you wish to acquire in the project.
Yes, the lease provides an option to acquire up to 49% of total equity in the project.
A water management plan is developed as part of the detailed project plan in consultation with the site owner and appropriate authorities. The plan details who can manage the water levels and how. When complete the water management plan becomes part of the lease.
When initially signing the lease, you will be leasing the site to GreenBug Energy Inc. However, GreenBug can and likely will transfer the lease to a limited partnership to facilitate investment in the project by parties other than itself, such as further investment by you the site owner/lessor, or further investment by other parties such … Read more