Sky Solar Holdings, Ltd , a global developer, owner and operator of solar parks announced that the Company entered into Share Purchase Agreements with A.W. Aktina Wind Limited (the “Buyer”), a non-affiliate of the Company.
Pursuant to this agreement the Buyer shall purchase all equity interest in 23.0 MW of solar projects from Sky Solar’s wholly-owned subsidiaries in Greece (the “Transaction Assets”) for a total purchase price of EUR39.7 million (approximately $US43 million). The Buyer will pay EUR37.8 million in cash and take on certain specified liabilities of EUR1.9 million associated with the Transaction Assets.
Mr. Weili Su, Chief Executive Officer of Sky Solar, commented, “We are very pleased to announce this transaction, which represents our ongoing efforts to monetize certain solar project assets to deploy in Sky Solar’s core growth areas. We remain committed to expanding our presence in selected markets including Japan and the U.S that offer the most attractive investment returns. We look forward to cultivating more successful project opportunities in the year ahead.”
About Sky Solar Holdings, Ltd.
Sky Solar is a global independent power producer (“IPP”) that develops, owns and operates solar parks and generates revenue primarily by selling electricity. Since its inception, Sky Solar has focused on the downstream solar market and has developed projects in Asia, South America, Europe, North America and Africa. The Company’s broad geographic reach and established presence across key solar markets are significant differentiators that provide global opportunities and mitigate country-specific risks. Sky Solar aims to establish operations in select geographies with highly attractive solar radiation, regulatory environments, power pricing, land availability, financial access and overall power market trends. As a result of its focus on the downstream photovoltaic segment, Sky Solar is technology agnostic and is able to customize its solar parks based on local environmental and regulatory requirements. As of June 30, 2016, the Company had developed 276 solar parks with an aggregate capacity of 259.1 MW and owned and operated 133.1 MW of solar parks.
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