VivoPower International PLC Announces Largest Solar Contract to Date for the 204MWdc Edenvale Solar Farm
June 13 2022 - 9:00AM
VivoPower International PLC (NASDAQ: VVPR, the “Company”) is
pleased to announce that its wholly-owned subsidiary in Australia,
J.A. Martin Electrical Pty Limited (“J.A. Martin”), has been
awarded an A$11.7m contract to complete all electrical works for
the 204MWdc Edenvale Solar Farm in Queensland, Australia.
Construction has already commenced with the
project to be the fifth utility scale Australian solar farm
completed by VivoPower’s Aevitas business unit in Australia,
bringing the completed and contracted solar farms to over 650MWdc.
Once energised, the Edenvale Solar Farm will generate approximately
425,000MWh of clean energy per year and avoid the emission of
300,000 tonnes of carbon dioxide into the atmosphere, equivalent to
the amount generated by approximately 83,000 internal combustion
engine vehicles.
Kevin Chin, VivoPower’s Executive
Chairman and Chief Executive Officer,
said: “Since establishing our solar
solutions business in Australia, we have seen revenue grow at a 62%
compound annual growth rate (CAGR) since FY2019 (based on actual
and forecast contracted revenue through to June 30, 2022). In
addition, over the past quarter, we have seen a step change
increase in the pipeline of additional solar project opportunities
across the Australian market and we are very well positioned to win
and deliver on further contracts.”
About VivoPower
VivoPower is a sustainable energy solutions
company focused on battery storage, electric solutions for
customised and ruggedised fleet applications, solar and critical
power technology, and services. The Company's core purpose is to
provide its customers with turnkey decarbonisation solutions that
enable them to move toward net zero carbon status. VivoPower is a
certified B Corporation with operations in Australia, Canada, the
Netherlands, the United Kingdom, the United States, and the United
Arab Emirates.
Forward-Looking Statements
This communication includes certain statements
that may constitute “forward-looking statements” for purposes of
the U.S. federal securities laws. Forward-looking statements
include, but are not limited to, statements that refer to
projections, forecasts or other characterizations of future events
or circumstances, including any underlying assumptions. The words
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“predict,” “project,” “should,” “would” and similar expressions may
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does not mean that a statement is not forward-looking.
Forward-looking statements may include, for example, statements
about the achievement of performance hurdles, or the benefits of
the events or transactions described in this communication and the
expected returns therefrom. These statements are based on
VivoPower’s management’s current expectations or beliefs and are
subject to risk, uncertainty, and changes in circumstances. Actual
results may vary materially from those expressed or implied by the
statements herein due to changes in economic, business, competitive
and/or regulatory factors, and other risks and uncertainties
affecting the operation of VivoPower’s business. These risks,
uncertainties and contingencies include changes in business
conditions, fluctuations in customer demand, changes in accounting
interpretations, management of rapid growth, intensity of
competition from other providers of products and services, changes
in general economic conditions, geopolitical events and regulatory
changes, and other factors set forth in VivoPower’s filings with
the United States Securities and Exchange Commission. The
information set forth herein should be read in light of such risks.
VivoPower is under no obligation to, and expressly disclaims any
obligation to, update or alter its forward-looking statements
whether as a result of new information, future events, changes in
assumptions or otherwise.
Contact
Shareholder Enquiries
shareholders@vivopower.com
Media Enquiries
vivopower@secnewgate.co.uk
Sophie Morello / Jessica Hodson Walker / Richard Bicknell
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