Skycorp Solar board authorizes solar PV power plant acquisitions

Skycorp Solar’s (PN) Board of Directors has unanimously passed a resolution authorizing the Company to pursue solar photovoltaic power plant acquisitions and development projects under a $150M investment framework. This decision marks a pivotal step in the Company’s strategic expansion into renewable energy infrastructure, reinforcing its commitment to driving the global transition to clean energy. The Company advises that acquiring and developing PV power plants involves inherent complexities that can extend execution timelines and introduce uncertainties regarding completion. Factors such as due diligence findings, regulatory approvals, and the progress of negotiations may delay or even terminate the transaction, potentially impacting its completion. The Company will conduct comprehensive due diligence on potential power plant targets, prioritizing verification of legal ownership, regulatory compliance, and asset quality to mitigate transactional risks. All capital expenditure and fund allocations by the Company will be conducted in a cautious, incremental manner, ensuring alignment with its overall strategic priorities and financial capabilities.