By Stephen Nakrosis
Green energy provider Clean Energy Technologies said it signed a non-binding offer with a European solar and wind development company for a deal whose total size is estimated to be about $85 million.
The identity of the European company is currently undisclosed due to confidentiality reasons, Clean Energy said Friday.
In connection with the proposed transaction, Clean Energy received an initial $4.4 million in equity investment, which is expected to form a portion of the funds that would be deployed in connection with the NBO transactions.
The transaction is expected to expand Clean Energy's operations to Europe and allow the company to establish a foothold in the solar and wind power generation market, the company said.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
May 23, 2025 17:36 ET (21:36 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.