New Energy Solar's Manildra Plant complete

Company News

by Rachael Jones

Construction at New Energy Solar's (ASX:NEW) Manildra solar power plant is complete and it is operating at full design capacity.

Sales of electricity into the National Electricity Market commenced in April 2018.

To reach Final Completion, a number of items remained to be completed by RCR (ASX:RCR).

RCR and its parent company, RCR Tomlinson, announced in November that they had each appointed voluntary administrators.

The Manildra project entity has terminated the construction contract and taken measures to finalise these outstanding items.

Shares in New Energy Solar's (ASX:NEW) trading 0.7 per cent lower at $1.38.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.