Malaysia’s VCI Global to acquire solar farm in North Macedonia

The takeover is worth $1.26m.

Malaysia’s VCI Global Limited has fueled its expansion with the signing of a term sheet to acquire a 1.14 megawatt solar farm in Novo Selo, North Macedonia for around $1.26m.

In a statement, the company said the bifacial solar farm is equipped with Huawei Technology inverters that convert the direct current electricity generated by the solar panels into alternating current electricity. The solar facility is connected to the national grid under a power purchase agreement with Mega Concept LLC Skopje.

With a projected payback period of approximately 9 years, the solar farm is expected to deliver financial returns throughout its 30-year operational lifespan.

The acquisition is still subject to due diligence and the signing of a definitive agreement.