Infigen Energy has announced that it has agreed to sell its US wind business to Primary Wind Power, LLC (Primary Wind), a newly-formed portfolio company affiliated with ArcLight Capital Partners, LLC (ArcLight), for approximately US $272.5 million.
Completion of the wind transaction is subject to various closing conditions, but it is expected to close by October 2015. Infigen's US wind business comprises Class B equity interests in 18 US wind farms with a total installed capacity of approximately 1,557 MW, of which Infigen's interests comprise 1,089 MW on an economic interest basis. In addition, Infigen has an investment in Class A cash flow interests in nine of those wind farms and owns a US based asset management business. Australia-headquartered Infigen will use the proceeds of sale to reduce its Global Facility debt and place the company's retained Australian business on a stronger financial footing.