P2 Solar, Inc (OTCPK:PTOS) entered into memorandum of understanding to acquire Barkote II hydro power project for CAD 11.2 million on February 19, 2015. The consideration includes term debt of CAD 4.7 million and equity of CAD 6.5 million. P2 has signed an memorandum of understanding for equity funding with the same entity as for Barkote 1 and they have commenced their due diligence.

The transaction for both projects will be completed simultaneously.