Tuesday 12 August 2008

Wind power reduces debt

Daily Telegraph
Friday 18/7/2008 Page: 85

Allco Finance Group has completed the sale of its US Tehachapi wind farm assets and cut its senior debt by $230 million as a result. Allco announced last month that it and its co-investors had agreed to offload the Californian wind farm, considered one of its best overseas assets, to a US consortium for $346 million. The sale has resulted in an anticipated after tax net share of sale proceeds for Allco of approximately $163 million.

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