On Tuesday, the Sun Pacific Holding Corp (OTCMKTS:SNPW) made a strong move and went up by as much as 21% after the company announced that its fully owned subsidiary company National Mechanical Group signed a partnership for the development of Queensland Australia Solar Farm.
As per the terms of the deal, the National Mechanical Group is going to be involved in the development of a 100 megawatt solar farm in Queensland, Australia in partnership with Renewable Energy Engineers Aust.
It is going to help with the energy grid in the location. The Chief Executive Officer of Sun Pacific Holding Corp also spoke about the development. He stated that the early stages of talks and development between the two parties have proven to be successful. He went on to state that the company is looking forward to building up this project so that it unlocks value for all stakeholders in Sun Pacific. Investors could consider keeping the stock in their watch lists for the time being.