London-listed Foresight Solar Fund Limited has kicked off an auction for a 230-megawatt portfolio of Australian solar farms, after flagging the mooted divestment last year to pay down debt.
Street Talk can reveal the £429 million ($848 million) fund has mandated Azure Capital to find a buyer for the four solar farms. A teaser is in front of prospective bidders who’ve been told to expect a bidding timetable shortly.
The up-for-grabs portfolio includes the 110-megawatt Bannerton solar park in Victoria’s Robinvale, the 30-megawatt Oakley 1, 70-megawatt Oakley 2 and the 17-megawatt Longreach asset. All up that’s about 227 megawatts of operational capacity.
Of note, Bannerton’s co-owners, Korea Development Bank’s infrastructure arm KIAMCO and Hanwha Energy, have joined Foresight’s exit attempt, paving the way for a 100 per cent sale.
Read the full story tomorrow and more on the Street Talk page.
Billionaire publican Bruce Mathieson attempted to acquire Star Entertainment’s sprawling Gold Coast property late last year with a proposal that valued the resort complex at about $550 million.
Best and worst
Banks pushed the Australian sharemarket lower on Monday, after a disappointing set of results from Bendigo Bank and Westpac bruised sentiment towards the sector.
