MITSY - Engie Mitsui divests 75% of renewable energy trust to Infrastructure Capital

Engie ([[ENGIY]] -1.8%) and Mitsui ([[MITSY]] -1.0%) have sold a 75% stake in their newly established Australian Renewable Energy Trust to Infrastructure Capital Group, an Australian fund with A$2.5B of equity under managementTerms of the deal were not disclosed but according to sources, the stake was sold for A$400M ($287M).The deal comes at a time when infrastructure investors are turning away from airport and road investments which are struggling due to the coronavirus pandemic.Engie will operate renewable energy assets, which includes the rights to a pipeline of projects in Australia. The first to be up and running is the 119 megawatt Willogoleche wind farm in South Australia, which started operating late last year.Engie, which shut its Hazelwood coal-fired power plant in and sold its other coal-fired plant in Australia in 2017, flagged last year it would seek one or more partners to invest in a fund to develop 2,000 MW of

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Engie, Mitsui divests 75% of renewable energy trust to Infrastructure Capital