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Interra Resources Ltd. ( (SG:5GI) ) has provided an update.
Interra Resources Limited has announced that its subsidiary, Interra Renewable Energy (Thailand) Co., Ltd., has entered into a joint venture agreement with Royal Manor Group Co., Ltd. to develop a solar power plant in Thailand. The joint venture will create a new company to build a solar farm with a capacity of up to 10 megawatts, aiming to generate electricity for both internal use and sale to the Thai government. Additionally, a convertible bond agreement has been established, allowing Interra to purchase a bond from Royal Manor Group, which will be used to redeem a mortgage loan secured by land owned by Royal Manor. This strategic move is expected to enhance Interra’s presence in the renewable energy sector and strengthen its market position in Thailand.
More about Interra Resources Ltd.
Interra Resources Limited is a company involved in the renewable energy sector, focusing on the development and operation of energy projects. The company is expanding its operations through subsidiaries, such as Interra Renewable Energy (Thailand) Co., Ltd., to explore opportunities in renewable energy markets.
Technical Sentiment Signal: Buy
Current Market Cap: S$23.6M
For detailed information about 5GI stock, go to TipRanks’ Stock Analysis page.