MPower Finalizes Sale of Narromine Solar Project, Strengthens Financial Position

MPower Group Limited ( (AU:MPR) ) has issued an announcement.

MPower Group Limited has finalized the sale of the Narromine Renewable Energy Project to AMPYR Distributed Energy (Australia). As a result, AMPYR now holds full equity in the project, and MPower has eliminated $10.36 million of short-term debt from its balance sheet. MPower will still serve as the operations and maintenance provider and asset manager for the project, which is a 6.7MWdc/4.99MWac solar installation in New South Wales. The transaction is expected to yield a gain of approximately $700K for MPower, enhancing its financial standing and reinforcing its role in renewable energy operations.

More about MPower Group Limited

MPower Group Limited is a technology-led company specializing in reliable on-grid and off-grid power solutions for blue-chip corporate and government clients. Based in Sydney, MPower has a strong track record in delivering turn-key solar, battery storage, and microgrid projects across the region.

YTD Price Performance: 20.0%

Average Trading Volume: 452,386

Technical Sentiment Consensus Rating: Buy

Current Market Cap: A$3.78M

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