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Atlantic Tele-Network unit buys development business of Armstrong Energy Global

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Atlantic Tele-Network unit buys development business of Armstrong Energy Global

AtlanticTele-Network Inc. unit Ahana Renewables completed the of the developmentbusiness of Armstrong Energy Global, a developer and owner of solar farms inIndia, in April.

As a result of the acquisition, the companies have created Vibrant Energy, whichwill oversee the development, construction and operations of photovoltaic solarprojects in Southern India, Atlantic Tele-Network CEO Michael Prior said in aForm 8-K filed April 28.

The company currently expects Vibrant Energy to have 20 MWto 25 MW on line and generating revenue by early in the fourth quarter, and 45MW by January 2017. Additionally, the company is targeting the development ofat least 250 MW in solar energy projects in that market through the end of2018, Prior added.