ECT’s Coldry technology offers a sustainable and long-term solution to meet the growing energy demands of the nation while mitigating the daunting issues of climate change. YES BANK is committed to support the India strategy of ECT through its sector expertise and deep rooted relationships”
This is a strategic ann to enable a partnership with NLC. This Indian governmental company will only include ECT in their massive expansion if ECT is connected to one of the local banks.
The NLC deal is being prepared, in my opinion.
Business deals have to be properly prepared and necessitate clarity for the legal ( given fact as we own the license ) and funding ( enabled by ann today ) aspects.
We have now achieved diversification in funding preparations for CDPs apart from Monash.
Apart from obviously being a cornerstone for NLC to grant a deal between the companies, this agreement should also change the ALDP decision criteria as Vic government would want Indian, Korean and Chinese interests to be represented behind the supported companies in the ALDP.
There might not be dollars attached to this ann, but it allows a NLC deal within days ( end of Nov, early Dec ) which would currently still fall under confidentiality clauses before being announced.
ESI Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
