PHOENIX, May 8, 2012 /PRNewswire/ — Zentric Inc. (OTCQB: ZNTR) William Tien, President of Zentric Inc., is pleased to announce Zentric has negotiated a Debt Financing Agreement with ZW United Credit & Investment, Ltd. for up to $50 Million.
ZW United Credit & Investment, Ltd. is an integrated financial guarantee and investment limited liability Company established in 2006 with over RMB 300 million of fully paid up registered capital. ZW United Credit & Investment Limited will act as broker to arrange for the securities that will enable Zentric to secure Corporate Bond Funding.
Mr. Thomas IP, CEO of ZW United Credit & Investment, Ltd. comments, “We have been assisting companies like Zentric to secure the funding they require to help grow their businesses for over 6 years. We have identified 28.8 MW of Solar Power Plant developments in North Carolina that Zentric plans to build, own and operate in 2012 that we will endeavour to secure funding for and look forward to an ongoing relationship for additional projects in future years.”
Mr. Tien remarked, “We are very pleased to have formalized an agreement with ZW United Credit & Investment, Ltd., a company with a proven record of success securing the funding requirements for businesses our size through the creation of innovative financing structures that appeal to their strong network of investors in (PR) China.”
Mr. Tien continues, “Zentric has spent many months solidifying relationships with solar farm project developers, solar panel suppliers and companies that can provide financing options for us to acquire and build solar projects owned 100% by Zentric. We have over $100 million worth of projects available to us in North Carolina that we would like to acquire and begin construction on in 2012 all of which have already been awarded a Power Purchase Agreement or PPA. The PPA is a long term guaranteed contract with the local Power Authority to purchase all of the power we can generate at a pre-determined price. A PPA guarantees a steady stream of payments and in this case for a minimum of 15 years.”
Mr. Jeff Mak, CEO of Zentric Inc., adds, “We continue to look for opportunities to increase our Solar Power Plant footprint in North Carolina as it remains a developer friendly state offering attractive 35% tax incentives in conjunction with the 30% tax credit obtainable through the federal program that when combined greatly offset the acquisition and development cost of each project.”
For further information on Zentric, please go to: www.ZNTR.com
For Further information on ZW United Credit & Investment, Ltd., please go to: http://zwunited.com
About Zentric Inc.
Zentric Inc. is a technology company that believes in making our contribution to saving the environment through the development of advanced patented battery technologies and in support of alternative energy and various other “green” initiatives. Zentric Inc. has recently become actively involved in the supply, project management and ownership of solar energy projects in the USA and will continue to seek similar opportunities to participate in Renewable and Alternative Energy initiatives on a global basis.
About ZW United Credit & Investment, Ltd.
ZW United Credit & Investment, Ltd. is an integrated financial guarantee and investment limited liability Company established in 2006 with over RMB 300 million of fully paid up registered capital. We are headquartered in Shenzhen, China with branches and subsidiaries located in 20 cities throughout (PR) China. We provide credit guarantee services including credit guarantees for small and medium sized enterprises (SMEs) and individual consumers, corporate financing and contract performance guarantees as well as integrated investment banking services throughout China.
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