Expected to reduce the carbon emission and generate clean energy, the first phase of the project is funded entirely by private investment.
Eco ventures CEO Garry Yost said it is very fulfilling to see this transaction get its final approval.
"This opportunity and the manner in which it is structured, compliments every stakeholder in this transaction," Yost added.
Sunlogics Power and DayStar’s Eco Energy Solutions (Australia) along with the government, Electrical Power Corp. and local partners were instrumental in getting Samoa’s first private power generating license to start the companies mandate in Samoa.
Salamon Group, through its Sunlogics Power Fund Management division, is a solar energy project company specializing in the construction management and acquisition of renewable energy power projects.
DayStar chairman and Interim CEO Peter Lacey said, "This transaction represents a critical step in the new strategic direction of DayStar."
