ag Pacific will merge with Carnegie's microgrid development subsidiary to form MPower, creating one of the region's largest engineering, procurement, construction, and build-own-pperate specialists in the off-grid and fringe-of-grid renewable energy, storage and microgrid markets.
The exchange will see Carnegie investors hold 32% in the new consolidated company, if shareholders from both companies approve the merge in August, receiving the new investment through an in-specie agreement.
MPower is expected to become a leading renewable, battery storage and microgrid developer, designer and constructor in the region with active projects across the Asia-Pacific.
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