$4 MILLION PLUS SOLAR FARM CONTRACT EXECUTED

  – Full design and construction contract executed for 5MWAC solar farm
  – MPower specifically targeting 5MWAC solar farms
  – Contract further strengthens MPower’s order book

Sydney – 31 March 2020 – MPower Group Limited (ASX: MPR)

MPower, Australia’s leading specialist renewable energy, battery storage and microgrid business, is pleased to announce that it is proceeding with the full design and construction of a 5MWAC solar farm in South Australia with a subsidiary of Astronergy Solar Australia Pty Ltd.

MPower and Astronergy have executed an Engineering, Procurement and Construction contract valued at over $4 million in relation to one of the two solar farm projects that MPower commenced work on in January 2020 after securing a Limited Notice to Proceed. The contract execution further strengthens MPower’s order book.

MPower is specifically targeting solar projects of this size due in part to their relative ease in connection to the grid. MPower successfully commissioned two 5MWAC solar farms in 2019 at Mannum and Port Pirie in South Australia and is actively pursuing further projects in this niche part of the renewable energy sector.

MPower and Astronergy are working towards an Engineering, Procurement and Construction contract in respect of the second solar farm project that MPower commenced work on in January 2020. In the interim, the value of authorised work under the Limited Notice to Proceed for that project has been increased from $125K to $500K to enable early design and other works to progress.

The two grid-connected solar farm projects developed by Astronergy feature single axis tracking technology and are expected to be completed this calendar year.

Comment

MPower’s Chief Executive Officer Nathan Wise commented: “Working with a blue chip company like Astronergy on these solar farm projects is very exciting and is directly in line with our stated strategy of pursuing solar farm projects of this size with asset owners.”

“MPower has developed an enviable capability in the successful delivery of 5MW solar farms and continues to strengthen its order book in the growing renewable energy sector.”

Ends

Contact

For further information, please contact:
Nathan Wise
Chief Executive Officer
(02) 8275 6000

This announcement has been authorised by Nathan Wise, Chief Executive Officer.

About MPower

MPower Group Limited (ASX: MPR) is a technology-led company with a long history specialising in the delivery of reliable on-grid and off-grid power solutions for blue chip corporate and government customers.

Headquartered in Sydney, MPower’s team of professionals has successfully delivered turn-key solar, battery storage and micro grid projects across the region.

2020-03-26 Branded Port Pirie image (Large)


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