ReNu signs mandate for $10m debt facility


General News - Sep 19, 2017

Renewable energy company, ReNu Energy (ASX: RNE) is pleased to advise that it has signed a
mandate letter and non-binding term sheet for a debt financing facility with Infradebt Pty Ltd.
The c. $10 million debt facility will be used to fund the development of the first four SCA solar PV
embedded network projects, the existing Amaroo solar PV project and several proposed near-term
projects that are presently in a state of advanced negotiations. Finalisation of the facility is subject
to Infradebt’s ongoing due diligence and credit approval, and ReNu Energy’s finalisation of the nearterm
additional projects.
ReNu Energy CEO and Managing Director Mr Chris Murray said, “We are delighted to be working
with Infradebt to establish this facility, which allows us to leverage our available cash and optimise
our equity returns. Access to debt funding on competitive terms and visibility on near term assets
further supports our strategy of building a portfolio of income generating assets.”
Infradebt’s CEO Alexander Austin said, “The facility with ReNu Energy is an ideal investment for
the Infradebt Ethical Fund, and we look forward to working with ReNu Energy on these and future
projects.”
Infradebt is a Canberra based fund manager specialising in infrastructure debt, and has recently
launched the Infradebt Ethical Fund as an open-ended, ethically screened credit fund.

Source : ReNu

Published on Global Energy World: Sep 19, 2017

 

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