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Sun Pacific Holdings Corp (OTCMKTS:SNPW), which is involved in developing and commercializing solar energy and renewable energy tech, prided key updates with regards to its business last week.
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The company announced that it has a positive outlook regarding the business for 2021. The positivity regarding the prospects of its business is driven by the slew of new partnerships formed by Sun Pacific and the projects that are expected to be launched through the year. The company believes that the launch of the new projects is going to be the foundations of its upcoming growth. Sun Pacific also enumerated the specific points that were responsible for forming this outlook about 2021.
One of the projects highlighted by Sun Pacific was the one in Durango, Mexico. It is a solar farm project generating 50 MW. The development of the project is now ongoing after work had been halted due to the COVID 19 pandemic. At this point, a financial closing is being targeted before construction begins again this year.
On the other hand, Sun Pacific also stated that it expects to grow its reach in the market through its membership with Geopath. Another important highlight was the signing of the Memorandum of Understanding with regards to the development of a high efficiency off grid digital plug with Atlas Transit Solutions.
Another important point raised by Sun Pacific in its corporate update was in relation to its subsidiary company Medrecycler RI Inc. In the update, the company pointed out that Medrecycler is currently in the middle of the regulatory process with regards to the approval of an advanced pyrolysis facility.
It spans over an area of 48,000 square foot and aims to process as much as 70 tons of medical waste on a daily basis. Last but certainly not the least, it was also announced that another subsidiary company of Sun Pacific, National Mechanical Group, is working towards getting an UL certification in relation to its glass less solar panels.
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