Under the conditional agreement with Babcock & Brown Group, independently listed BBW plans to acquire five of the wind farms by the end of March and the final one by December.
The six wind farms are expected to boost BBW’s generating capacity by 39% and add about $A60 million in net cash flow.
BBW plans to fund the acquisition, if approved by shareholders on February 26, through its available debt facilities and existing cash.
The portfolio comprises the 38MW Buena Vista wind farm in California, the 90MW Aragonne wind farm in New Mexico, the 80MW GSG and 52MW Mendota wind farms in Illinois, and the 80MW Allegheny Ridge Phase 1 and 70MW Allegheny Ridge Phase 2 wind farms in Pennsylvania.
