New Energy Solar (ASX:NEW) to sell 50% of power plant to US Solar Fund

Company News

by Melissa Darmawan

New Energy Solar (ASX:NEW) is set to sell 50 per cent of its Mount Signal solar power plant to US Solar Fund PLC.

The sale is expected to be between US$44 million and $46 million which is around $57 to $60 million Australian.

US Solar Fund is a renewable energy company with a diversified portfolio of utility-scale solar power plants across America. Back in June, New Energy Solar had a different potential buyer but they were unable to reach an agreement.

Shares in New Energy Solar (ASX:NEW) trading 0.6 per cent higher at $0.86.