Infigen Energy Limited
(ASX:IFN) has announced the sale of its US solar development pipeline to a global solar energy company.
Infigen will receive $49 million for the pipeline with an $11.4 million upfront payment and the balance due by the end of November this year.
An earn-out bonus of $39 million is possible depending on the Power Purchase Agreements secured by the end of December 2016.
Managing Director Miles George says he is delighted with the success of the US development activities in the three years since the project began.
Infigen made and interim net profit of $1.55 million for the 2015 financial year.
