Australia's Mpower Group sees best day in over 2 weeks on renewable projects deal

MPR Australia

31/08/2021 06:03

** Renewable energy firm Mpower Group  MPR.AX  rises as much
as 7% to A$0.077, their best intraday pct jump since Aug. 16
    ** Says https://www.mpower.com.au/post/purchase-agreements-executed-for-first-two-boo-sites
 executed binding purchase agreements for two project sites, one
in New South Wales and Victoria each
    ** Deal to develop its portfolio of up to 20 5MW renewable
energy projects with an estimated end value of more than A$150
mln ($109.61 mln)
    ** Asset purchase deals for the two projects executed at
A$1.3 mln
    ** Expects NSW site to start generating revenue in early
FY23, and Victoria site in 1H23
    ** Stock hits highest since Aug. 18
    ** About 791,000 shares change hands, compared with the
30-day average of 214,000 shares
    ** MPR up 38.5% this year, as of last close

($1 = 1.3686 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))