MPower Converts Debt to Equity in Green Energy Deal

MPower Group Limited (AU:MPR) has released an update.

In a significant move towards green energy investment, MPower Group Limited has struck a deal with AMPYR Distributed Energy, transforming a $10 million project funding for the Narromine solar project into total equity for AMPYR. Upon completion, MPower anticipates a $700K gain from the asset’s deconsolidation. The Narromine project has successfully connected to the grid and is meeting its performance targets, with MPower continuing to manage operations and maintenance.

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