MPower Acquires Lakeland Solar & Storage Project
- Renewable energy, battery storage and microgrid business MPower (MPR) acquires the Lakeland Solar & Storage Project
- Located in Queensland, the Lakeland Project comprises a 10.8 megawatt alternating current (MWac) solar farm and a 1.4MWac lithium-ion battery storage facility
- The company will look to upgrade existing project infrastructure and implement its proprietary solution for controlling and monitoring renewable energy markets
- Through the acquisition, M Power expects to generate annual revenue of around $1.8 million expects Lakeland to contribute annual earnings before interest, tax, depreciation and amortisation of around $800,000
- The company is steady on the market with shares trading at 2.3 cents at 3:50 pm AEST
