MN8 Energy to acquire 14 US solar assets of New Energy Solar for $245m.

MN8 Energy, an investment vehicle launched in 2017, agreed to acquire 14 US solar assets of New Energy Solar, an electric power generation company, for $245m. The transaction remains subject to conditions set out in the transaction documents including NEW shareholder approval, customary financier and offtaker consents, and customary US regulatory approvals. The transaction represents the sale of NEW’s main undertaking and, if approved by shareholders and if the transaction conditions are met, will eventually result in the de-listing of NEW from the ASX and the winding up of the company.