ReNu Energy Limited (ASX:RNE) executed a term sheet to acquire 5.8 Megawatt DC Solar Farm Development in Kadina, South Australia from Astronergy Solar Australia Pty Ltd on April 26, 2019. In a related transaction, ReNu Energy Limited executed a term sheet to acquire 5.8 Megawatt solar farm development in Bungama, South Australia from Astronergy Solar Australia Pty Ltd on April 26, 2019. The total cost to acquire the both projects and complete the construction is AUD 17.2 million. ReNu Energy and Astronergy have entered into an exclusivity period until June 30, 2019 for the purpose of completing due diligence and negotiating formal agreements. ReNu Energy and Astronergy have entered into an exclusivity period until June 30, 2019 for the purpose of completing due diligence and negotiating formal agreements. As of July 5, 20191, ReNu Energy and Astronergy have agreed to an extension of both Term Sheets to August 31, 2019 to complete due diligence, negotiations and legally binding agreements 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.