3rd Feb 2015 16:31
Infinis Energy plc (Symbol: INFI)
Update on hydro business disposal for £20.5 million
Infinis Energy plc ("Infinis" or the "Company") announced on 19 December 2014 that it had entered into agreements to sell all of its Welsh hydro sites, totalling 14MW, to Dŵr Cymru Welsh Water ("Welsh Water") and the remaining hydro sites, totalling 3MW, to H2O Power Limited for a cash consideration of £20.5 million, conditional upon approval being given by Welsh Water's lenders.
Infinis is pleased to announce that the disposals completed on 3 February 2015 following such lender approval being obtained.
As previously stated, the Company will use the proceeds of the hydro sale to further develop the growth of its onshore wind portfolio in line with its existing strategy.
Enquiries:
Brunswick Group David Litterick
+44 20 7404 5959
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