ANNOUNCED AS TEMPORARYNo
On 3 July 2018, the Clean Energy Finance Corporation (CEFC) of Australia announced the allocation of AUD 35 million (over USD 25.8 million at the time of the announcement) to intelliHUB, a joint venture between Landis+Gyr and Pacific Equity Partners. The objective of this debt finance is to finance the acquisition of Acumen, the smart meter business unit of Origin Energy.
The total value of the acquisition is AUD 267 million (USD 197 million) and intelliHUB is expected to become one of the leading smart meter providers in Australiana and New Zealand.
Clean Energy Finance Corporation
The Clean Energy Finance Corporation is a government-funded financier created to fund clean energies. To achieve these goals, the Australian government has provided credits of AUD 2 billion each year from 1 July 2013.
The statutory text, the Clean Energy Finance Act 2012, states that only solely or mainly Australian-based investments are eligible for these resources.
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