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Highlights
MPower Group (ASX:MPR) announces sale of renewable and battery assets to Wollemi Energy
Company to rebrand as MPR Australia and focus on reshaped business direction
Lakeland project improvements and Narromine divestment mark key strategic moves
MPower Group (ASX:MPR), listed on the ASX 200, has announced a strategic transition with the sale of its renewable energy and battery storage operations. The clean energy and infrastructure sector saw a notable development as MPower agreed to divest assets to Wollemi Energy Group, a climate-aligned investment platform.
The agreement covers the company’s renewable energy services, the Lakeland hybrid solar and battery facility in Queensland, and a set of future projects. Following this transaction, MPower will rebrand as MPR Australia. The move marks a shift in focus and signals a new phase for the company’s structure and capital base.
Rebrand and Streamlined Corporate Direction
The rebranding to MPR Australia comes as the company seeks to reposition its business model after divesting energy infrastructure assets. MPower indicated that surplus capital will remain after debt settlement, allowing the firm to refine its operations with enhanced liquidity.
Corporate representatives acknowledged that external financial and project execution conditions influenced the decision. The firm emphasized the role of Wollemi’s capabilities in combining investment capital and sectoral knowledge with the divested business portfolio.
Performance Enhancements at Lakeland Solar and Battery Facility
The Lakeland site, part of the sale to Wollemi, had previously undergone enhancement works aimed at improving operational efficiency. MPower undertook technical upgrades to align the facility with its original design and performance expectations.
These works were discussed with key stakeholders to ensure proper scoping, scheduling, and support before the asset transfer was formalised. The site remains one of the benchmark projects in regional battery and solar hybrid installations.
Narromine Solar Project Divestment Strengthens Balance Sheet
Earlier in the year, MPower completed the divestment of the Narromine solar project in New South Wales to AMPYR Distributed Energy. This move removed substantial short-term liabilities from the company’s financial structure.
Under the new ownership, AMPYR assumed full equity and cleared all related funding obligations. MPower had designed and constructed the site and continues to operate it under a management and maintenance agreement. Narromine has contributed measurable energy volumes since entering service, highlighting MPower’s technical delivery and project execution capacity.
Broader Market Context and Index Placement
With its listing on the ASX 200, ASX 100, and All Ordinaries, MPower's strategic decisions are monitored by broader market participants. The company’s streamlined focus may create a distinct footprint within the restructured segment of the energy services industry.
As part of the ASX 300 universe, MPower maintains a position among key players in infrastructure and clean energy services.
