Sky Solar Holdings, Ltd. today announced that the Company entered into Share Purchase Agreements with A.W. Aktina Wind Limited (the "Buyer"). Pursuant to this agreement the Buyer shall purchase all equity interest in 23MW of solar projects from Sky Solar's wholly-owned subsidiaries in Greece (the "Transaction Assets") for a total purchase price of EUR39.7 million (approximately $US43 million). The Buyer will pay EUR37.8 million in cash and take on certain specified liabilities of EUR1.9 million associated with the Transaction Assets.
Mr. Weili Su, Chief Executive Officer of Sky Solar, commented, "We are very pleased to announce this transaction, which represents our ongoing efforts to monetize certain solar project assets to deploy in Sky Solar's core growth areas. We remain committed to expanding our presence in selected markets including Japan and the U.S that offer the most attractive investment returns. We look forward to cultivating more successful project opportunities in the year ahead."
The closing of this transaction is subject to customary closing conditions. The parties are working diligently to satisfy the conditions as quickly as possible.