Spark Infrastructure (ASX:SKI) confirms that TransGrid Services, has reached agreement with the Clean Energy Finance Corporation for a $125 million corporate debt facility.
The CEFC has committed the funds on behalf of the Australian Government to help finance the development of grid infrastructure critical to the delivery of the Snowy 2.0 pumped hydro project.
In its first major grid infrastructure investment, the CEFC will fund TransGrid Services to increase the amount of reliable and secure electricity to the National Energy Market (NEM).
TransGrid Services is the unregulated business of TransGrid, in which Spark Infrastructure holds a 15.01 per cent interest, and is a provider of contestable transmission load and grid connections in NSW and the ACT.
Shares in Spark Infrastructure (ASX:SKI) are trading 0.5 per cent lower at $2.08.