New Energy Solar (ASX:NEW) has released a statement regarding the appointment of administrators to RCR Tomlinson.
New Energy Solar are committed to acquire the Manildra Power Plant from First Solar in June 2018.
The plant was constructed by RCR O'Donnell Griffin – a subsidiary or RCR.
Construction of Manildra is complete and the Plant is operating at full design capacity.
RCR O'Donnell Griffin remains obligated to complete a small number of items to reach full completion at the Plant under the terms of its construction contract. These obligations are secured by bank guarantee.
New Energy Solar is working with First Solar to determine if there are any further considerations resulting from the announcement.
Shares in New Energy Solar (ASX:NEW) trading 07 per cent higher at $1.44.