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Australian power producers may issue as much as $13.2bn in debt to finance new gas-fired plants and wind farms, according to global rating agency Fitch Ratings. The agency said that the government plans to tackle climate change by imposing a price on burning fossil fuels such as coal, wh
Australian power producers may issue as much as $13.2bn in debt to finance new gas-fired plants and wind farms, according to global rating agency Fitch Ratings.
The agency said that the government plans to tackle climate change by imposing a price on burning fossil fuels such as coal, which accounts for more than 80% of power production in Australia, reports Bloomberg.
According to Fitch, the rest of the forecast spending amount, about $25.5bn through 2016, may be funded by power generators in Australia with cash and share sales.
A Fitch analyst Arnon Musiker told Bloomberg that the risk in planning new plants lie in market perceptions that the companies are raising more debt than their business profiles can support.
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