According to an Oct 21 release, the acquisition is expected to “complement the group’s business of providing human resource and ancillary services in the renewable energy industry”.
Following the completion of the MOU, WATPL is set to incorporate a company under the laws of Spain to undertake the potential acquisition.
Additionally, the group says both companies will enter into a separate definitive agreement, which is set to focus on an asset purchase agreement or other relevant agreements in relation to the proposed acquisition.
Shares in Sheffield Green closed flat at 19 cents on Oct 21.
