Pilot Energy Nears Sale of Solar Farm

Pilot Energy Limited (AU:PGY) has released an update.

Pilot Energy Limited has received a non-binding offer from EDP Renewables APAC to acquire its Three Springs Solar project in Western Australia for $11.5 million, which will support the company’s transition toward renewable energy projects and carbon management. The sale of the 376MW solar farm development is intended to fund the advancement of the Mid West Clean Energy Project and the Cliff Head Carbon Storage Project. The completion of the transaction is expected before the end of the year, pending due diligence and regulatory approvals.

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