Infigen Energy

Canaccord Genuity acts as Joint Lead Manager, Bookrunner and Underwriter to Infigen Energy Limited on its A$151 million equity capital raise

Canaccord Genuity is pleased to announce the completion of a 1 for 4.6 accelerated non-renounceable entitlement offer of ~169.7 million stapled securities at an offer price of AUD$0.89 per security, raising gross proceeds of approximately A$151 million on behalf of Infigen Energy Limited (ASX.IFN) (“Infigen”). Canaccord Genuity acted as Joint Lead Manager, Bookrunner and Underwriter for the equity raising.

Together with the existing cash reserves, the proceeds of the equity raising will be used to implement Infigen’s business strategy including developing wind and solar opportunities by financing the equity component of new projects, including the construction of the ~113 MW Bodangora wind farm in New South Wales, and increasing balance sheet flexibility to facilitate a potential refinancing of two existing Infigen debt facilities.

Infigen is an active participant in the Australian energy market. It is a developer, owner and operator of renewable energy generation assets delivering energy solutions to Australian businesses and large retailers. The company owns 557 MW of installed generation capacity operating in New South Wales, South Australia and Western Australia and sells the energy through a combination of medium and long term contracts and through the spot market. Infigen is looking to develop further renewable energy projects in response to the strong demand for renewable energy created by the Australian Governments, large scale Renewable Energy Target and decreasing cost of development. It has a number of projects that offer near-term development opportunities.