The proceeds of the sale have been used to reduce the company's outstanding debt with the Commonwealth Bank of Australia (CBA). As a result the outstanding amount of the Multi-Option facility ("MOF") with CBA is now around $52 Million.

EWC has also finally settled the account with regard to the sale of the investment in Basin Bridge Power Station. These funds have been paid into a stakeholders account with the CBA and will be released when formalities are completed, which will reduce the CBA debt even further.