Australia

Australia

Australian developer secures $525m debt refinancing

AUSTRALIA: Investment bank Goldman Sachs will provide Australian developer Infigen with A$525 million ($415 million) debt refinancing.

Infigen's 113.2MW Bodangora project is due online in the first quarter of 2019, the developer stated
Infigen's 113.2MW Bodangora project is due online in the first quarter of 2019, the developer stated

Infigen said the refinancing would provide "flexibility to operate (its) business as one portfolio rather than a series of project finance entities".

It is also seeking A$80 million of liquidity facilities "provided by the traditional bank market".

The developer aims to close the refinancing packages by 31 March, it added.

Infigen had announced in the first half of last year it was "exploring the merits" of refinancing its global debt ahead of its maturity date of 31 December 2022.

Len Gill, Infigen’s chairman, said the refinancing would enable the developer to "focus on the continuing transition of the Infigen business".

The developer also stated its five-year business plan revolves around three main points: ensuring it achieves "appropriate value from [its] existing portfolio", expanding the regions in which it produces and supplies capacity, and creating a capital structure to better support its business strategy.

Infigen owns the 48.3MW Woodlawn, 140.7MW Capital projects in New South Wales, 89.1MW Alinta wind farm in Western Australia, and 278.5MW three-phase Lake Bonney site in South Australia.

It also owns the 113.2MW Bodangora project in New South Wales, which is currently under construction, as well as several Australian projects that have received development consent, but have not yet been built.

The developer also has stakes in projects in the US, Germany and Portugal.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Sign up now
Already registered?
Sign in

Windpower Monthly Events


Latest Jobs