ReNu Energy Limited announced the execution of two Term Sheets with Astronergy Solar Australia Pty Ltd. for the acquisition of two 5.8MW DC (4.95MW AC) grid connected solar farm developments in South Australia. The solar farm developments are located near Kadina and Bungama in South Australia, and are in the final stages of obtaining all necessary development and connection approvals. It is anticipated that all project approvals will be in place by 30 June, and that construction will be completed and generation commenced in fourth quarter of 2019. ReNu Energy and Astronergy will work together over the exclusivity period to complete due diligence, negotiate and enter into definitive legally binding agreements, including Sale & Purchase Agreements (SPA) for each project. The completion of each project SPA will be conditional upon ReNu Energy obtaining suitable finance to acquire and construct the project, and all necessary regulatory and shareholder approvals.