Sky Solar Holdings, Ltd. today announced that Sky Capital America Inc. 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."