VCI Global signs term sheet to acquire a solar farm in North Macedonia

VCI Global (VCIG) has signed a term sheet to acquire a solar farm with an estimated capacity of 1.14 megawatts, MW, located in Novo Selo, North Macedonia. The acquisition is valued at approximately $1.26M and is subject to due diligence and the signing of a definitive agreement. The bifacial solar farm, equipped with Huawei Technology inverters, achieves a high system performance ratio of over 90%, meaning it operates at more than 90% of its theoretical maximum output despite external factors. These inverters efficiently convert the direct current electricity generated by the solar panels into alternating current electricity, which is suitable for distribution through the national grid. The solar farm is connected to the national grid under a Power Purchase Agreement, PPA, with Mega Concept Skopje, ensuring stable revenue streams based on HUPX pricing. In addition to income from energy sales, the project generates significant additional revenue through carbon credits, further boosting its profitability. With a projected payback period of approximately 9 years, the solar farm is expected to deliver strong financial returns throughout its 30-year operational lifespan.