AMPYR Distributed Energy to Acquire 6.7 MW Solar Park in New South Wales

Credit: MPower Group

AMPYR Distributed Energy has agreed to acquire a 6.7-MW DC/5 MW AC park located in , Australia, in a deal that includes converting project debt into equity.

The Narromine Project will be purchased from Ltd, as announced by MPower on Thursday. Following the transaction, ownership of the asset will transfer to AMPYR, extinguishing all associated development costs.

As of the end of September, the principal outstanding amount under the project's funding facility was AUD 10 million (USD 6.7 million/EUR 6.2 million). The conversion of the debt into equity is pending regulatory approval and is anticipated to take effect in the coming months. MPower expects to recognize a gain of approximately AUD 700,000 from the divestment.

The Narromine project features a photovoltaic (PV) farm equipped with bifacial modules and single-axis trackers, designed to generate over 14,000 MWh of annually. The plant commenced commercial operations in July.

MPower, which handled the design and construction of the project, will continue to operate and maintain the PV park and will remain its asset manager.

Add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep Up to Date with the Most Important News

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use

Support Renewable Energy News!

At EnergyMagz, we believe that reliable, up-to-date news on renewable energy is vital for driving the world toward a sustainable future. By contributing, you’re not only supporting quality journalism, but also helping to shape the world’s transition to greener solutions.
DONATE  NOW
Every contribution, no matter the size, makes a difference.
close-link