Adelaide Advertiser
Friday 11/5/2007 Page: 79
Babcock and Brown Wind Partners has bought two wind farms in north-west Spain for about $180 million from Electric Power Development and Marubeni. The Monte Siexo and Serra do Cando acquisitions, which BBW expects to complete before June 29, are at Pontevedra in Galicia.
The acquisitions will be funded through debt and the equity raised through a recent institutional placement. BBW said it expected the farms to "be immediately accretive to the preacquisition expected net operating cash flow. "The acquisitions are expected to contribute $8.0 million to net operating cash flow from fiscal year 2008," the company said.
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