Sun Pacific Holding Corp (OTCMKTS:SNPW) is one of the biggest gainers in Tuesday’s trading session.
Market Action
As of 11:01, SNPW stock is up 15.93% to $0.0316 with more than 7.7 million shares, compared to its average volume of 9.6 million shares. The stock has moved within a range of $0.0269 – 0.0350 after opening the trade at $0.028.
Major Trigger:
Sun Pacific Holding Corp’s Announces its National Mechanical Group Subsidiary Entered into a Partnership Agreement with Renewable Energy Engineers Aust. to Develop an initial 100MW Solar Farm in Queensland, Australia
Key Highlights:
- Sun Pacific Holding announces that its wholly owned subsidiary, National Mechanical Group (“NMG”) has entered into a partnership agreement to develop Queensland Australia Solar Farm. National Mechanical Group (“NMG”) and Renewable Energy Engineers Aust. (“REEA”) will develop an initial 100-megawatt solar farm in Queensland, Australia to help the energy grid in that area.
- The partnership was formed to develop the solar farm opportunity by bringing together expertise in solar design and development with “in-country” expertise in building, construction, technology, and regulatory knowledge and skills.
- The team is actively engaged in sourcing components and capital with an end goal of developing up to 100-Megawatt solar farm. The team has currently received a lands rights agreement for 750 acres and one power purchase agreement for the solar farm and is in discussions with component manufacturers and investment partners.
Key Quote:
Nicholas Campanella, CEO of Sun Pacific Holding Corp, stated, “We are excited to work with the team at REEA in developing this opportunity and more in Australia. The initial discussions and development so far have been successful, and we look forward to developing this opportunity for all of our stakeholders.”
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