The latest announcement is out from MPower Group Limited ( (AU:MPR) ).
MPower Group Limited has finalized the conversion of the Narromine Renewable Energy Project’s funding into project equity, resulting in AMPYR Distributed Energy acquiring 100% equity and extinguishing all project funding. This transaction has removed $10.36 million of short-term debt from MPower’s balance sheet and is expected to result in a gain of approximately $0.7 million. MPower continues to manage the operations and maintenance of the Narromine project. The company is also working on upgrading its Lakeland solar and battery project and has agreed to dispose of assets related to the Faraday Renewable Energy Project. Despite financial challenges, MPower is focused on securing capital partners to support its strategic plan and future project developments.
More about MPower Group Limited
MPower Group Limited is a leading specialist in the renewable energy sector, focusing on battery storage and microgrid solutions. The company is involved in the design, construction, and management of renewable energy projects, with a significant emphasis on hybrid renewable energy assets and distribution-connected projects.
YTD Price Performance: 10.0%
Average Trading Volume: 423,630
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$3.78M
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