The shares of RVPC were acquired from existing shareholders through a cash payment of $1M and the company has an option to acquire up to a further 10% of the issued and outstanding shares of RVPC for a further cash payment of up to $1M on or before 15 June 2012.
Meanwhile, work has started on the access roads for Barr Creek hydro project, which is located near the Village of Tahsis on Vancouver Island, British Columbia. The project will be owned and operated by the Barr Creek Limited Partnership and its general partner Barr Creek Hydro Ltd.
The Barr Creek Limited Partnership recently awarded the access road contract to C & E
Roadbuilders Ltd and had earlier awarded a contract for the supply of two 2.2MW turbine/generators to Chongqing Yuhne Hydro Group.
