Solaer Discloses Australian Solar and Storage Memorandum

Solaer Renewable Energies disclosed Tuesday that it signed a nonbinding memorandum on Monday to acquire between 49% and 70% of an Australian solar and storage portfolio. The portfolio comprises about 200 megawatts of solar capacity and 550 megawatt-hours of storage. Solaer's filing gives indicative values for the completed portfolio of 300 million Australian dollars in equity and 780 million Australian dollars in enterprise value; these are estimates, not a completed purchase price. The parties aim to sign a binding agreement and close by December 31, but due diligence, operational milestones, regulatory and lender approvals, and financing remain outstanding.