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Solar Alliance to close wind assets sale on Dec 14

Wind turbines. Photo by: EBRD (www.ebrd.com).

December 7 (Renewables Now) - Solar Alliance Energy Inc (CVE:SAN) expects to close the sale of certain wind energy assets in the Canadian province of British Columbia to Concord Green Energy Inc on December 14, 2017.

As previously announced, the company has signed a deal to sell the Bullmoose wind project, a 15% interest in the 77.4-MW Wildmare wind project in British Columbia, and a 100% interest in other assorted development stage wind assets in the same province for CAD 1.4 million (USD 1.1m/EUR 926,000).

After being approved by Solar Alliance’s shareholders on December 4, the planned transaction got a final court order on December 6.

Solar Alliance’s remaining assets will be transferred to a new corporate entity that will focus on its core solar activities.

(CAD 1.0 = USD 0.780/EUR 0.661)

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