September 2018

VivoPower announces agreement to develop utility-scale solar assets in NSW

News Solar

VivoPower announces agreement to develop utility-scale solar assets in NSW

Benn Lim

The Directors of Arowana International Limited (ASX: AWN) note the press release lodged overnight by its 61% subsidiary, VivoPower, that it has entered into a partnership with IT Power (Australia) Pty Ltd to jointly develop a portfolio of utility-scale ground mounted solar projects in New South Wales.

Please see the announcement as released by VivoPower below.

VivoPower International PLC (Nasdaq: VVPR) (“VivoPower”), a global solar power company, is pleased to announce that its wholly-owned subsidiary in Australia, VivoPower Pty Ltd (“VivoPower Australia”) has entered into a partnership with IT Power (Australia) Pty Ltd (“ITP”) to jointly develop a portfolio of utility-scale ground-mounted solar projects in New South Wales.

VivoPower Australia and ITP will share responsibility for development of the solar projects in the portfolio, with an initial aggregate capacity of at least 50 megawatts and the opportunity to add additional capacity over time. VivoPower and ITP intend to design, contract, finance and construct each project on a rolling basis.

VivoPower has demonstrated a successful track record with utility-scale solar projects, having developed, constructed and financed projects representing more than 90 megawatts of generating capacity over the past two years.

“VivoPower is excited about this major solar development initiative in the New South Wales market, which represents a significant expansion of our Australian footprint, and is also highly complementary to the solar initiatives of our subsidiary Aevitas,” said Carl Weatherley-White, Chief Executive Officer of VivoPower. “We are very pleased to be working with ITP, a highly successful and respected partner with demonstrated experience in the Australian renewables market.”

“ITP are delighted to be working closely with VivoPower on this exciting enterprise. VivoPower have been highly successful with their international solar farm development projects and combined with our extensive local experience in the Australian energy market, we are confident of success,” said Simon Franklin, Managing Director of ITP.

About VivoPower

VivoPower is an international solar power producer and storage company that is developing, building and operating projects on a global basis in a capital efficient manner. VivoPower does this by aggregating photovoltaic (PV) solar projects underpinned by long-term power purchase agreements, arranging corporate and project financing, engineering, design and equipment procurement and managing the construction and development of such solar PV projects.

About IT Power Australia Pty Ltd
Established in 2003, ITP is a renewable energy consulting and engineering company, working on projects of all sizes for governments, corporations, aid agencies and energy providers in Australia. As part of the wider ITP Energised Group, one of the first consultancies to bring together specialists in renewable energy, energy efficiency and carbon markets, ITP draws on more than three decades of experience delivering thousands of renewable energy projects around the globe. Within the ITP Energised Group, ITP leads work in the Australian and Asia / Pacific region and works globally with ITP Energised Group partners.

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