The draft term sheets have been provided by a number of groups with Panax identifying a number potential funding partners that it considered would most likely complete a funding deal. These include:
- A syndicated group of Singapore based investment funds that are part of a group with prior investment experience in Asia Pacific geothermal projects and capable of providing the required equity capital;
- A European based investment fund with substantial investment in renewable energy projects in Europe and Asia that can provide the majority of the required equity capital; and
- A Chinese conglomerate that can provide the required equity and project finance requirements as well as substantial technical and development experience.
