$4 million plus solar farm contract executed

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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.

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.’