Australia's Mpower soars on offer to connect energy projects to grid
13/10/2022 02:35
** Shares of Mpower Group Ltd MPR.AX rise as much as 4.8%
to A$0.022, on track for their best day since Oct 6, if gains
hold
** The renewable energy firm says two of its clean energy
(solar/battery) projects in South Australia received formal
offer for electrical connection to network of South Australia's
sole electricity distributer SA Power Networks urn:newsml:reuters.com:*:nASX12tGxg
** Says connection terms facilitate the importation of
energy from the grid to charge the batteries at both sites
–enabling the projects to take advantage of negative pricing
opportunities in the SA market
** Mpower stock down 47.5% this year, as of last close
(Reporting by Poonam Behura in Bengaluru)
((Poonam.Behura@thomsonreuters.com;))