Minoan Group To Restart Buying, Applying For Greek Solar Licenses

14th Jul 2010 07:50

LONDON (Dow Jones)--Minoan Group PLC (MIN.LN), a company engaged in the design, creation, development and management of a resort development business at Cavo Sidero in North East Crete, said Wednesday that following its review of the recently enacted new legislation for all renewable energy projects in Greece, the Company is to recommence its program of acquiring, or applying for, solar energy licenses. MAIN FACTS: -Discussions regarding applications for additional licenses and with providers of debt finance are ongoing with a view to further enhancing returns. -Remains firmly focused on meeting the twin targets of achieving carbon neutrality for the Cavo Sidero Project and creating additional, compatible businesses which will provide the net income to cover all Minoan's existing operating costs. -The proposed structure will maintain the underlying value of the Cavo Sidero Project for shareholders. -Shares closed Tuesday at 9.8 pence. By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [email protected] (END) Dow Jones Newswires July 14, 2010 02:50 ET (06:50 GMT)