Goldman Sachs is to provide funding totalling A$525m to Australian wind developer Infigen Energy for refinancing the latter company’s debt facility.
The five-year deal is subject to agreed terms and conditions and expected to close at the end of March.
Infigen chairman Len Gill said: “The board is very pleased with this outcome. It will allow the team to focus on the continuing transition of the Infigen business … (and) provide the flexibility required to operate in a dynamic energy market.”
The company also reported an increased net profit of A$26.7m in the six months to the end of 31 December, up almost 25% on the A$21.4m posted in the same period of the previous year.
Earnings were up 5% to A$88m from A$84m, while revenue grew 2% to A$118.2m from A$115.4m previously.
The increases came despite lower output over the period of 854 gigawatt-hours, down 35GWh from the year before.
Lower wind across the company’s portfolio was the main reason for the fall in output, Infigen said.
But it was boosted by higher electricity prices.
Image: Infigen
Goldman fills Infigen coffers
By EBS