PHE / HUI amendment to joint terms19 Mar 2024 07:58
Although most of the terms are similar to the original agreement (Longford JV agreed with Powerhouse Energy, 22 March 2023), there is a slight change to the payments. The initial agreement was for a £400k payment. HUI has already received a payment of £100k, and will receive further £100k payments on the signing of the Subscription and Shareholder Agreement and once planning permission has been granted. The partners will fund the development on a 50/50 basis with initial funding by way of shareholder loans (for a maximum of €200k each).