VCI Global Embarks on a Strategic Series of Renewable Energy Asset Acquisitions, Starting with a North Macedonia Solar Farm
VCI Global Limited - Ordinary Share (VCIG)
Company Research
Source: GlobeNewswire
KUALA LUMPUR, Malaysia, Dec. 19, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global” or the “Company”), has signed a term sheet to acquire a solar farm with an estimated capacity of 1.14 megawatts (MW), located in Novo Selo, North Macedonia. The acquisition is valued at approximately US$1.26 million (or approximately €1.2 million) and is subject to due diligence and the signing of a definitive agreement. The bifacial solar farm, equipped with Huawei Technology inverters, achieves a high system performance ratio of over 90%, meaning it operates at more than 90% of its theoretical maximum output despite external factors. These inverters efficiently convert the direct current (DC) electricity generated by the solar panels into alternating current (AC) electricity, which is suitable for distribution through the national grid. The solar farm is connected to the national grid under a Power Purchase Agreement (PPA) with Mega Concept LLC Skopje, ensuring stable revenue
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News
- VCI Global Embarks on a Strategic Series of Renewable Energy Asset Acquisitions, Starting with a North Macedonia Solar Farm [Yahoo! Finance]Yahoo! Finance
- VCI Global Targets US$200 Million Revenue with 100 MW of Solar Photovoltaic Projects in Southeast Asia and EuropeGlobeNewswire
- VCI Global Receives Conditional Letter of Award for US$24 Million AI ContractGlobeNewswire
- VCI Global Regains Compliance with Nasdaq Minimum Bid Price Rule [Yahoo! Finance]Yahoo! Finance
- VCI Global Regains Compliance with Nasdaq Minimum Bid Price RuleGlobeNewswire
VCIG
Sec Filings
- 12/18/24 - Form SCHEDULE
- 12/17/24 - Form 6-K
- 12/17/24 - Form 424B5
- VCIG's page on the SEC website