EXCLUSIVE: VivoPower Wins Its Largest Ever Solar Contract For Electrical Works

VivoPower International PLC's VVPR Australian subsidiary, J.A. Martin Electrical Pty Limited, has received an A$11.7 million contract to complete all electrical works for the 204MWdc Edenvale Solar Farm in Queensland.

Why It's Important: It will be the fifth utility-scale solar farm completed by VivoPower's Aevitas business unit in Australia, bringing the completed and contracted solar farms to over 650MWdc. Construction has already commenced with the project.

Once energized, the Edenvale Solar Farm will generate approximately 425,000MWh of clean energy annually and avoid the emission of 300,000 tonnes of carbon dioxide.

Read Next: Vivopower Shares Jump On Latest EV Deal.

"Since establishing our solar solutions business in Australia, we have seen revenue grow at a 62% CAGR since FY2019 (based on actual and forecast contracted revenue through to June 30, 2022), said Kevin Chin, VivoPower's Executive Chairman & CEO.

 "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. We are very well positioned to win and deliver on further contracts," Chin added.

Price Action: VVPR shares closed 5.26% higher on Friday.