trending Market Intelligence /marketintelligence/en/news-insights/trending/7bbplyteb_gzh3qrmymgxw2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

VivoPower wins FERC approval to sell interests in 2 NC solar facilities

Blog

COVID-19 Impact & Recovery: Energy Outlook for H2 2021

Blog

US utility commissioners: Who they are and how they impact regulation

Video

Climate Credit Analytics: Linking climate scenarios to financial impacts

Blog

Essential Energy Insights, April 2021


VivoPower wins FERC approval to sell interests in 2 NC solar facilities

Arowana International Ltd. and its affiliate VivoPower USA LLC received approval from the Federal Energy Regulatory Commission to sell minority stakes in the 34.2-MW Innovative Solar 31 and the 33.8-MW Innovative Solar 47 projects.

Under the deal, VivoPower will sell all of its managing membership in the North Carolina solar facilities to a New Solar Energy subsidiary for $11.4 million.

Both solar farms sell their output to Duke Energy Corp. subsidiary Duke Energy Progress LLC under power purchase agreements.

VivoPower said it will record a noncash charge of about $10.2 million and use the deal proceeds for development activities, to pay down debt or to repurchase stock.

Arowana, an Australian asset management firm, owns 60.3% of VivoPower. New Energy Solar is a sustainable investment fund headquartered in Australia consisting of registered managed investment scheme New Energy Solar Fund and New Energy Solar Ltd. (FERC docket EC18-95)