SINGAPORE: UAC Energy Holdings Pty Ltd (UAC), an affiliate of AC Energy, has lodged a Supplementary Bidder’s Statement with the Australian Securities and Investments Commission (ASIC) in relation to its off-market takeover bid for all the stapled securities in Infigen Energy Limited.

UAC announced in the bidder’s statement that it is increasing its offer price to A$0.86 per stapled security, that the offer is now wholly unconditional. and that it will accelerate payment terms to T+10 business days.

Furthermore. UAC has stated that it will procure the provision of an unsecured loan to Infigen on arm’s length terms to refinance its corporate facility if required.

Given this, the improved UAC offer is at a compelling price equal to the level at which the Infigen board endorsed a competitor’s bid. unconditional, does not have a minimum acceptance condition, and allows securityholders to accept the offer for all or part of their stapled securities.

Infigen is a renewable energy developer, generator and retailer listed in the Australian Securities Exchange that owns and operates 670MW of wind farms all over Australia, as well as gas, battery and contracted assets.

UAC is owned by AC Energy and UPC\AC Renewables Australia (“UPC\AC”). UPC\AC, an Australian joint venture of AC Energy with the UPC Renewables Group, has been active in renewable energy development in Australia since 2017, focusing on large-scale solar. wind and pumped hydro storage. The acquisition of interest in I nfigen strengthens both AC Energy’s and UPC \AC’s commitment to provide low-cost power in Australia by expanding its operating portfolio and enabling the sale of energy through retail channels.

The investment in Infigen is a crucial move forward for AC Energy s regional expansion as it remains committed to its goal of exceeding 5GW of attributable capacity, with 50% of energy generated from renewables by 2025.