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Cannon Power Group Statement on Mexico Spin-off
Cannon Power Group SPINS OFF Mexico project development activities TO MEXICO POWER GROUP
Due to the substantially increased volume of activity of its Mexico projects, Cannon Power Group, a global leader in renewable energy development, has reorganized its growth in Mexico.
As a result, Cannon Power Group has spun off its Mexico project development rights in the states of Baja and Zacatecas to Cannon Power Group’s chairman, Gerry Monkhouse. Effective June 15, 2011, Monkhouse will continue developing these projects, as well as projects in other locations in Mexico, under a separate Mexico-based company, Mexico Power Group, which plans to sell power to Mexican off-takers.
While operating Mexico Power Group, Monkhouse will remain as Chairman of Cannon Power Group to provide leadership, insight and support for projects the company is pursuing in the U.S. and Europe.