Utilico UIL takes Carnegie share

Infrastructure investor Utilico UIL has acquired Renewable Energy Holdings’ stake in Australian developer Carnegie Wave Energy.

Bermuda-incorporated UIL secured 101.3m shares in the company, or a 5.07% interest, to become its second-largest shareholder, Carnegie said.

The investor agreed to a 12-month voluntary trading escrow, preventing the sale of its shares for a year.

The deal comes after Isle of Man developer Renewable Energy Holdings filed a winding-up claim on April 1 to be liquidated.

REH then said its shares in Carnegie were worth around £2.2m.

Image: Carnegie