BioPower Executes Multiple Agreements, Including a Joint Venture for a 45 Year $660B Renewable Energy Initiative

Aventura, Florida, May 12, 2023 (GLOBE NEWSWIRE) — BioPower Operations Corporation (OTC Pink: BOPO) d/b/a as HYFI Corp. (together with its subsidiaries, “BioPower/HYFI”), today announced the execution of multiple agreements, including the formation of a joint venture with POWGEX ENERGY called “POWGEX-HYFI” to build, own and operate renewable electricity generating facilities for the next 45 years. BioPower/HYFI will own up to 19.99% of the joint venture in exchange for various deliverables, including providing structured finance for green infrastructure and our OEM relationships. BioPower/HYFI has put together a consortium of banks, investment banks and institutions approved to provide structured project finance for the build out of as much as 300 gigawatts (GW) of utility scale and rooftop solar electricity, onshore and offshore wind, true green hydrogen production and atmospheric water generation. The projects are confirmed to be guaranteed by Power Purchase Agreements from established key off-takers. In the first year it is contemplated that installations will begin in the fourth quarter for approximately 1 (GW) of power at a cost of approximately $2.25 Billion per GW, and subsequent years will target up to 6 GW of installed capacity, per year, with the help of world class OEM’s and leaders in the renewable energy industry such as large co-developers and EPC’s. BioPower/HYFI will arrange the structured finance for these renewable energy facilities and will also receive project development fees.

Read more at globenewswire.com