Visit for the latest on our upcoming conferences and webcasts

United States

United States

Infigen sells 1.1GW US portfolio

UNITED STATES: Australian developer Infigen has sold its 1.1GW US wind portfolio to private equity firm Primary Power LLC for $272.5 million.

The Cedar Creek's project, Colorado, US, is now owned by US investment firm (Photo: Dennis Schroeder/NREL)
The Cedar Creek's project, Colorado, US, is now owned by US investment firm (Photo: Dennis Schroeder/NREL)

The portfolio comprises 18 projects in the US, with a total capacity of 1.56GW, of which just under 1.1GW was owned by Infigen.

According to Windpower Intelligence, the data and insight division of Windpower Monthly, Infigen owns an interest in the 300MW Cedar Creek I and 251MW Cedar Creek II projects in Colorado. The projects use a mix of GE 1.5MW and 1.6MW, Mitsubishi 1MW and Nordex 2.5MW turbines.

The rest of the portfolio is spread over the rest of the US including Pennsylvania, New Mexico, Oklahoma, California, Illinois and Texas.

Primary Power is owned by US energy-focused investment firm ArcLight Capital Partners. Following the sale of Infigen's US business, Primary Power will employ its staff.

The transaction is expected to complete in October 2015. The Australian developer said it will use the proceeds to pay off debts.

Infigen in Australia

Infigen managing director Miles George said: "Infigen has been assessing various options to improve the capital structure of our business and unlock security holder value for quite some time. The outlook for our remaining Australian business is positive following the recent passage of the amended renewable energy target legislation in Australia that provides policy certainty."

Last month, the Australian parliament approved legislation to cut the Renewable Energy Target support scheme from 41TWh to 33TWh.

Infigen currently has a six project portfolio in Australia with an installed capacity of 556.6MW and approximately 1GW in the pipeline. 

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Windpower Monthly Events

Latest Jobs