MPower awarded early works agreement for $8m Port Pirie solar farm

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Tag is pleased to advise that its wholly-owned subsidiary, MPower, has been awarded an Early Works Agreement for a 5MW solar farm being developed by Renew Power Group.

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PRESS RELEASE

  1. Sydney – 14 September 2018 – Tag Pacific Limited (ASX: TAG) (Tag) is pleased to advise that its wholly-owned subsidiary, MPower Projects Pty Limited (MPower), a specialist renewable energy, battery storage and microgrid business, has been awarded an Early Works Agreement for a 5MW solar farm being developed by Renew Power Group Pty Limited (RPG) in Port Pirie, South Australia.
  2. The Early Works Agreement includes preliminary designs and associated activities to an initial value of $100K in relation to the Pirie Solar Farm project. MPower and RPG will now work towards executing a full Engineering, Procurement and Construction contract for the Pirie Solar Farm which is estimated to have a contract value to MPower of between $8 million to $9 million.The contract would, upon execution, result in a further strengthening of MPower’s current order book. New business development activity is also at a high level and the group is preparing for a further increase in activity once the previously announced acquisition of Energy Made Clean completes.

    Comment

    Tag’s Chief Executive Officer Nathan Wise commented: “MPower continues to strengthen its order book and secure new decentralised power generating opportunities such as the Port Pirie Solar Farm.

    “This is an innovative project that will showcase the latest renewable technologies, and once constructed, will deliver reliable and dependable power generation to the Port Pirie community for many years.

    “MPower is benefiting from strong demand from industry for renewable decentralised power generation projects. Business development activity is at a high level, and as a result, our current order book is expected to grow substantially. We anticipate securing more projects in coming months.”

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