October 9 (Solar) – The Australian subsidiary of VivoPower International Plc (NASDAQ:VVPR), VivoPower Pty Ltd, said on Monday it has sold its Express Power Solar PPA projects in Australia to an affiliate of renewable power retailer Diamond Energy Pty Ltd.
VivoPower's CEO Carl Weatherley-White commented that the transaction will provide it with the capital needed to develop and build new solar assets in Australia. The terms of the deal were not disclosed.
"This move expands our existing generation portfolio and, through our linkage with our electricity retail arm, will enable many customers a seamless solar experience," said Tony Sennitt, managing director of Diamond Energy.
VivoPower's business involves developing, building and operating solar photovoltaic (PV) projects that are backed by long-term power purchase agreements (PPAs).