it looks like a debt for equity swap (into the SPV) ..... the...

it looks like a debt for equity swap (into the SPV) .....

the PPA with Ausgrid .......

The Arbitration Award Redbank Energy Limited (ASX:AEJ) advises that its wholly owned subsidiary Redbank Project Pty Ltd (Redbank Project) has received the award in its arbitration with Ausgrid on Wednesday 3 April 2013. As previously announced, the arbitration related to a dispute concerning Redbank Project’s entitlement under its Power Purchase and Hedge Agreement (PPHA) to pass through to Ausgrid, Redbank Project’s counterparty under the PPHA, the cost incurred by Redbank Project under the Commonwealth Government’s Clean Energy Act 2011 (colloquially known as the “Carbon Tax”).
Redbank Project has been successful in the arbitration and was also awarded its costs of the proceedings.
The award means that Redbank Project will be entitled to pass on to Ausgrid the liability imposed on it by the Clean Energy Act 2011 in relation to the Contract Amount covered by the PPHA. Redbank is entitled to retain the payment of $8.7M that it received from the Commonwealth Governments Energy Security Fund.
The adjustment to the prices under the PPHA resulting from the award will continue to apply unless there is a reconsideration of the Contract Strike Price effective from 1 January 2020 as provided for by the PPHA.


not clear how this is "resolved" in the restructure ....

rgds
V_H