Infigen Energy to Sell its German Wind Assets

14 June 2011 (Last Updated June 14th, 2011 18:30)

Infigen Energy (IFN) has agreed to sell its German wind assets to an undisclosed European fund for $223m. The sale is in line with the company's strategy to reduce its debt by more than $267m from $1.36bn by the end June 2012. Infigen managing director Miles George told Bloomb

Infigen Energy (IFN) has agreed to sell its German wind assets to an undisclosed European fund for $223m.

The sale is in line with the company's strategy to reduce its debt by more than $267m from $1.36bn by the end June 2012.

Infigen managing director Miles George told Bloomberg that the company's main objective is to keep amortising the debt, to bring it to a level where they could refinance and also be comfortable.

The company is focusing on developing Australian wind projects as the government aims to generate one-fifth of its power needs from renewable energy sources by 2020.