The administrators appointed at Western Australias developer Carnegie Clean Energy have revealed the highest of four bids it managed to attract for its solar microgrid business Energy Made Clean (EMC) was only $200,000, while the lowest one stood at mere $40,000. This is well below the $13 million the company was bought for in 2016. According to the administrators report, the highest bidder subsequently pulled out of the process.
The developer and its three subsidiaries EMC Co, Energy Made Clean and EMC Engineering Australia entered administration last month just days after the Western Australia government had terminated the $16 million financial assistanceagreement for the Albany wave energy project. The government said the unexpected pr…
Read the full article at: https://www.pv-magazine-australia.com/2019/04/18/carnegie-gets-5-million-lifeline-bids-for-liquidated-microgrid-arm-emc-revealed/