Sky Solar Holdings to Sell 23 MW of Solar Projects in Greece

Sky Solar Holdings, Ltd. announced that the Company has entered into Share Purchase Agreements with A.W. Aktina Wind Limited, a non-affiliate of the Company.

Pursuant to this agreement the Buyer shall purchase all equity interest in 23.0 MW of solar projects from Sky Solar’s wholly-owned subsidiaries in Greece for a total purchase price of EUR39.7 million (approximately $US43 million). The Buyer will pay EUR37.8 million in cash and take on certain specified liabilities of EUR1.9 million associated with the Transaction Assets.

Mr. Weili Su, Chief Executive Officer of Sky Solar, commented, “We are very pleased to announce this transaction, which represents our ongoing efforts to monetize certain solar project assets to deploy in Sky Solar’s core growth areas. We remain committed to expanding our presence in selected markets including Japan and the U.S that offer the most attractive investment returns. We look forward to cultivating more successful project opportunities in the year ahead.”

The closing of this transaction is subject to customary closing conditions. The parties are working diligently to satisfy the conditions as quickly as possible.