Carnegie Clean Energy has completed the partial sale of its 50 per cent interest in the Northam Solar Farm to Indigenous Business Australia (IBA) for $2,508,975, with funds being applied towards Carnegie’s remaining equity contribution to the Project Partnership.
Carnegie retains an 11.33 per cent interest in the Northam Solar Farm, calculated based on a ten per cent discount to the Fair Market Value at August 2018 as determined by an independent valuation undertaken by PwC.
A final minor equity adjustment will shortly be made on the same basis once associated transaction costs are finalised. As part of the transaction Carnegie has also agreed not to dispose of its remaining Partnership interest without IBA’s consent.
