ReNu Energy to Acquire Five Solar Projects in Australia from VivoPower

Published: Dec 06 2017
Deal Summary

ReNu Energy Ltd, a renewable energy company, has agreed to acquire five solar PV projects from VivoPower Pty Ltd, a renewable energy company, for a purchase consideration of approximately AUD0.58 million (USD0.44 million). The combined installed capacity of the plants is 0.34 MW. The transaction implies deal value of USD1.7 million per MW.

The power generated from the project will be sold to small to medium enterprises located throughout the National Electricity Market through several power purchase agreements.

Concurrently, ReNu Energy agreed to acquire a solar project from VivoPower.

ReNu Energy and VivoPower have agreed on a period of exclusivity to the end of February 2018 to allow ReNu Energy to complete due diligence and for the parties to finalize the detailed terms and conditions.

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