VivoPower International PLC Announces Diamond Energy Pty Ltd. Has Acquired VivoPower’s Express Solar Projects
VivoPower International PLC (Nasdaq:VVPR) (“VivoPower”), an international solar power company, is pleased to announce that an affiliate of Diamond Energy Pty Ltd (“Diamond Energy”) has acquired the Express Power Solar PPA Projects in Australia from VivoPower’s wholly-owned subsidiary in Australia, VivoPower Pty Ltd (“VivoPower Australia”). Terms were not disclosed.
“The sale of Express Power Solar represents another positive step towards achieving our FY19 goals”, said Mr. Carl Weatherley-White, Chief Executive Officer of VivoPower. “The transaction with Diamond Energy provides capital to develop and build new solar assets in Australia, while ensuring that Express Power Solar PPA customers continue to receive terrific service and savings from their roof top solar systems.”
“The Express Power Solar PPA customer base was a perfect fit for the growing Diamond Energy portfolio,” said Mr. Tony Sennitt, Managing Director of Diamond Energy. “This move expands our existing generation portfolio and, through our linkage with our electricity retail arm, will enable many customers a seamless solar experience.”