May 18 (Reuters) - Renu Energy Ltd RNE.AX :
* Renu signs alliance agreement and term sheet with Vivopower
* Signed a five year alliance agreement with Vivopower to acquire solar pv projects in Australia
* Renu Energy to purchase 600KW Amaroo Solar pv project, subject to final confirmatory due diligence, for purchase price of $2.38 million
* Also signed a binding term sheet for co to purchase 600KW Amaroo Solar Pv project from Vivopower Source text for Eikon: Further company coverage: RNE.AX