Central 1 Credit Union Letterhead]

Exhibit 10.2

[Central 1 Credit Union Letterhead]

March 29, 2012 VIA EMAIL

Xxxxxx Xxxxxxxxx

Xxxxxxxxx Power Providence Bay Inc.

00 Xxxxxxxx Xxxxxx, Xxxxx 000

Toronto, Ontario

M5V 2P2

Dear Xx. Xxxxxxxxx:

Re: Central 1 Credit Union, Community First Credit Union Ltd and Espanola District & Credit Union Limited (the “Lenders”) loan to Xxxxxxxxx Power Providence Bay Inc. (the “Borrower”)

We confirm the Lenders are prepared to offer you a renewal of the Term Loan as provided for in the Commitment Letter dated March 5, 2007, as amended by the Commitment Letter Amending Agreements dated November 20, 2008 and June 24, 2011, on the same terms and conditions as contained therein and upon receipt of a renewal fee in the amount of $1,000.00. We have outlined below the renewal terms available:

Facility 2, Term Loan:

Effective Date – April 10, 2012

Outstanding Principal Balance – $1,161,871.64

Remaining Amortization – 10 years

Term – 5 years

Interest Rate – 6.00%

Blended Monthly Payment of principal and interest – $12,899.16

First Payment Date – May 10, 2012

Maturity Date – April 10, 2017

Kindly acknowledge your acceptance of the terms of this renewal by signing below and returning to our office at your earliest convenience.

Yours truly,

/s/ Xxxxxx Xxxxxxxxxxxxxx

Xxxxxx Xxxxxxxxxxxxxx

Credit Services Officer

Central 1 Credit Union

0000 Xxxxxxxx Xxxx. E.

Mississauga, ON L4W 4X7

T. (000) 000-0000

F. (000) 000-0000

ACKNOWLEDGEMENT AND ACCEPTANCE

We hereby acknowledge and accept the terms and conditions of the renewal of the Credit Facility as outlined above.

XXXXXXXXX POWER PROVIDENCE BAY INC.
Per:		/s/ Xxxxxx Xxxxxxxxx
Name: Xxxxxx Xxxxxxxxx
Title: President
I/we have the authority to bind the Corporation

GUARANTORS

The undersigned has read, understands and accepts the terms and conditions of the renewal of the Credit Facility in its capacity as the Guarantor of the obligations of the Borrower therein.

XXXXXXXXX POWER INC.
Per:		/s/ Xxxxxx Xxxxxxxxx
Name: Xxxxxx Xxxxxxxxx
Title: President
I/we have the authority to bind the Corporation