MPower Group Limited (ASX: MPR), a leading specialist in renewable energy and battery storage development, has successfully acquired all development rights for its upcoming Narromine solar project in NSW. This achievement includes the Connection Agreement, essential planning approvals, and land rights, paving the way for the immediate commencement of the construction phase. The completion of the project is anticipated within a one-year timeframe.
The entire project rights, along with the inverter equipment, were acquired for AU$1.4 million, funded through MPower's existing AU$10 million financing facility. With this move, MPower remains well-capitalized to continue developing and expanding its clean energy portfolio. The Narromine project, strategically situated in regional NSW, is expected to generate around 14,000 MWh of renewable energy. This initiative underscores MPower's commitment to advancing clean energy assets and contributing to the energy grid's sustainability.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
