VPower Group International Holdings Limited(“VPower Group”, stock code: 1608), a leading private gas-fired engine-based DPG station owner and operator in Southeast Asia, is pleased to announce that, the Group has entered into a USD$30 million 3-year convertible loan agreement with F.K. Generators and Equipment Ltd (“F.K.”) to participate in the 80 megawatt heavy fuel oil (“HFO”)-fired distributed power generation (“DPG”) project (the “Project”). The Project is expected to be in commercial operation in the fourth quarter of 2017.
Under the terms of the option deed associated with the loan, the loan is guaranteed by F.K. and secured by key