Bitech Technologies has signed a binding Letter of Agreement with Bridgelink Development toward a 5.8 GW pipeline of utility power, procurement of key resources and establishment of a joint venture with an undisclosed larger infrastructure group.
The initiatives between the companies are behind the advancing of BLD’s 3.8 GW of solar projects and 1.9 GW of BESS projects in the U.S.
The companies plan to continue development of the projects by utilizing a Share Subscription Agreement being finalized for up to $250M, committed Letter of Intent for a late-stage BESS projects near Houston for up to $100M and securing the sale of the Incentive Tax Credits.
“The successful pre-negotiated financing, procurement, and joint venture with a larger infrastructure group represent significant milestones for Bridgelink as we contribute to this business combination with Bitech to continue to drive innovation and sustainability in the energy sector,” says Cole W. Johnson, chairman and CEO of Bridgelink.
“These strategic initiatives position us for continued success as we work diligently to bring our solar and energy storage projects to fruition. We are excited about the opportunities with Bitech that lie ahead and remain dedicated to our mission of advancing clean, renewable energy solutions.”