Australia: Origin announces sale of Cullerin Range Wind Farm

Cullerin Range Wind Farm is a 30 MW generator supplying electricity into the New South Wales market.

Under the terms of the transaction, Origin has entered into a long-term offtake agreement with Cullerin Range Wind Farm Pty Ltd.

The sale of Cullerin Range Wind Farm forms part of Origin’s $800 million asset divestment program announced in September 2015. The sale is subject to standard conditions precedent. Upon completion of sale, the divestment program’s cumulative proceeds to date will total $468 million.

The planned sale of Cullerin Range Wind Farm represents a 11.6x FY2017 EBITDA multiple to Origin.