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MPower Group Limited ( (AU:MPR) ) has issued an announcement.
MPower Group Limited has announced the sale of its renewable energy business to Wollemi Energy Group Pty Limited for approximately $19 million. This strategic move is expected to allow MPower to repay its liabilities and retain surplus cash, while offering employment to all its employees with the buyer. The transaction is anticipated to complete in August 2025, with the company considering options for the use of proceeds, including returning capital to shareholders or acquiring a new business. The sale includes MPower’s renewable energy platform and other assets, with conditions such as the re-energisation of the Lakeland Solar & Storage Project, which is currently offline due to transformer repairs.
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 operates within the renewable energy industry, providing services and products that cater to sustainable energy needs.
Average Trading Volume: 110,531
Technical Sentiment Signal: Sell
Current Market Cap: A$3.09M
For detailed information about MPR stock, go to TipRanks’ Stock Analysis page.