Project expected to generate average annual revenue of US$3.6 million and average annual free cash flow of US$1.2 million over its 20-year contracted life
Palmerston North, New Zealand, Aug. 31, 2026 (GLOBE NEWSWIRE) -- SunScout Holding Limited (NYSE American/NYSE Texas: SNSC) (“SunScout” or the “Company”), a clean-technology company developing and commercializing autonomous, solar-powered robotic mowers and related solar energy solutions, today announced that it has entered into a definitive Share Purchase and Project Development Agreement (the “Agreement”), dated as of August 23, 2026, with the shareholders of Anaya 1 Power Corporation and Alta Renewables, Inc. (“Alta Renewables”) to acquire the 25.0 megawatt-peak (“MWp”) AKELCO solar-plus-storage project on Panay Island.
SunScout expects the project to add approximately US$25 million to Company revenue during the construction phase. Once operating under its 20-year, fixed-price power supply agreement (the “PSA”), SunScout expects the plant to generate average annual revenue of approximately US$3.6 million and average annual free cash flow of approximately US$1.2 million.
The Agreement is the first definitive project agreement executed under the memorandum of understanding (“MOU”) SunScout and Alta Renewables announced on August 14, 2026, under which SunScout intends to build, own, and operate a portfolio of four shovel-ready solar-plus-storage projects totaling 87.5 MWp across the Philippines. Definitive agreements for the remaining three projects in Luzon and Visayas are expected to follow on a similar structure.
Under the build-own-operate structure, SunScout will fund and act as engineering, procurement and construction (“EPC”) contractor of record to build the plant, then serve as its operation and maintenance (“O&M”) provider of record once it is running — retaining ownership of the AKELCO plant, subject to Alta Renewables’ buy-in option described below, for the 20-year term of the PSA.
Deal terms:
- Purchase price: US$2,500,000 for 100% of Anaya 1 Power Corporation, the project company, paid 80% at Ready-to-Build (“RTB”) confirmation and 20% at the Energy Regulatory Commission’s provisional approval of the PSA.
- Project: 25.0 MWp (DC) solar with 10.0 MWac of export capacity, plus an approximately 13.0 MWac / 26.7 MWh battery energy storage system; 20-year PSA with Aklan Electric Cooperative, Inc., the offtaker, at a fixed PHP 6.035/kWh (USD 0.098/KWh); land option and lease arrangements in place; RTB targeted for September 2026.
- Alta Renewables stays on as local O&M partner and holds an option to buy up to 33% of the project company's equity at any time from the start of construction until commercial operation.
- Apricum Senior Advisor Moritz Sticher acted as transaction advisor for Alta Renewables on the transaction.
Closing remains subject to confirmation of the RTB Certificate, customary closing conditions, and formal board adoption. There can be no assurance that the parties will complete the transaction described, on these terms or at all.
“This is our first definitive agreement since signing the MOU two weeks ago, and the numbers are exactly why we like this model — US$25 million of construction revenue on one plant, then US$1.2 million of free cash flow every year for 20 years under a fixed-price contract,” said Mr. Edwin Cywinski, Chairman and Chief Executive Officer of SunScout. “We intend to repeat this across the rest of the portfolio.”
“This agreement puts real terms behind what we announced in August,” said Mr. John Michael Bernil, Director and Chief Executive Officer of Alta Renewables. “SunScout is funding and taking ownership of the AKELCO project, and we stay involved as operating partner with the option to invest alongside them.”
About SunScout Holding Limited
SunScout Holding Limited is a clean-technology company engaged in the design, development, manufacturing, and commercialization of autonomous, solar-powered robotic mowers and related solar energy solutions. Powered entirely by solar energy through the Company's proprietary deployable solar array (“DSA”) technology, SunScout's robotic mowers operate independently of the electrical grid and feature autonomous navigation and AI-powered obstacle avoidance. SunScout also provides solar power development solutions, as well as engineering products and services, including precision fabrication, mechanical engineering, and project management. SunScout's mission is to eliminate reliance on fossil fuels in outdoor maintenance and mobile machinery, beginning with lawn care and expanding into adjacent applications.
For more information, please visit the Company's website: https://www.snsc.ai.
About Alta Renewables, Inc.
Alta Renewables, Inc. is a Philippine developer of solar and integrated battery storage projects, with a portfolio spanning Aklan, Laguna, Iloilo, and Zambales provinces developed in partnership with local electric cooperatives.
About Apricum GmbH
Apricum GmbH is a Berlin-based advisory firm dedicated exclusively to the renewables and cleantech sectors, providing transaction, M&A, and strategy advisory services across solar, wind, energy storage, and other clean-energy verticals. Apricum has advised on more than 500 projects representing over €4.0 billion in transaction volume, supported by a global network spanning more than a dozen countries. For more information, please visit www.apricum-group.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can find many (but not all) of these statements by the use of words such as “believe,” “plan,” “expect,” “intend,” “should,” “seek,” “estimate,” “will,” “aim” and “anticipate,” or other similar expressions in this announcement. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the registration statement and other filings with the U.S. Securities and Exchange Commission (the “SEC”). Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.
The financial figures in this announcement, including the approximately US$25 million of construction revenue, the approximately US$3.6 million of average annual revenue and the approximately US$1.2 million of average annual free cash flow, are forward-looking estimates derived from the project’s current financial model. They depend on assumptions as to installed capacity, plant performance, the tariff payable under the power supply agreement, construction cost, financing terms and the Philippine peso / U.S. dollar exchange rate, and are not forecasts of the Company’s reported results for any period. They also assume completion of the acquisition, satisfaction of all outstanding Ready-to-Build milestones, receipt of the Energy Regulatory Commission’s approval of the power supply agreement, and the Company obtaining financing for the project on acceptable terms.
For more information, please contact:
SunScout Holding Limited
Investor Relations Department
Email: investors@snsc.ai
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
