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Sky Solar Holdings, Ltd. Announces Acquisition of 164 MW of Solar Project Permits in the U.S.

Sky Solar Holdings, Ltd.  ("Sky Solar" or the "Company"), a global developer, owner and operator of solar parks, today announced that Sky Capital America Inc. ("Sky Capital"), Sky Solar's wholly-owned U.S. subsidiary, has completed an acquisition of 22.5MW development stage permits for the solar projects in California and Vermont from a California-based solar energy development company.

The Company aims to enter into definitive documents for the acquisition of an additional approximately 140MW of development stage solar project permits primarily in California, from the same solar energy development company within the third quarter of 2016. Sky Solar expects to complete the development and construction of these projects in the next 18-24 months.

Mr. Sanjay Shrestha,President of Sky Capital, commented, "Over the last few months, we have substantially expanded our US portolio by acquiring high-quality assets with attractive returns. This acquisition represents another example of our commitment to our long-term growth strategy as well as our efforts to strengthen our presence in the US market. We look forward to expanding our presence in the Americas region by adding high-quality projects with investment grade offtakers."

About Sky Solar Holdings, Ltd.

Sky Solar is a global independent power producer ("IPP") that develops, owns and operates solar parks and generates revenue primarily by selling electricity. Since its inception, Sky Solar has focused on the downstream solar market and has developed projects in Asia, South America, Europe, North America and Africa. The Company's broad geographic reach and established presence across key solar markets are significant differentiators that provide global opportunities and mitigate country-specific risks. Sky Solar aims to establish operations in select geographies with highly attractive solar radiation, regulatory environments, power pricing, land availability, financial access and overall power market trends. As a result of its focus on the downstream photovoltaic segment, Sky Solar is technology agnostic and is able to customize its solar parks based on local environmental and regulatory requirements. As of March 31, 2016, the Company had developed 276 solar parks with an aggregate capacity of 259.1 MW and owned and operated 133.1 MW of solar parks.

 

 

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