3 April 2017

INFIGEN TO PROCEED TO CONSTRUCTION OF BODANGORA

Infigen (ASX: IFN) today announced Key project statistics: that it would proceed to construction of the 113.2 MW near Capacity 113.2 MW Wellington in , having Expected annual output 361 GWh achieved financial close. Estimated construction time 18 months Bodangora wind farm will be built by a Number of turbines 33 consortium comprising General Electric Turbine technology GE 3.43 MW (GE) and civil-engineering construction company Civil & Allied Technical EPC provider GE and CATCON consortium Construction (CATCON) under an Total project cost ~$236 million engineering, procurement and construction Facility providers NORD/LB, CEFC (EPC) contract. Construction facility amount ~$163 million ’s Managing Director Ross Infigen equity funding1 ~$74 million Rolfe said, “We have been delighted to work Operation and maintenance 20-year agreement with GE with our partners in bringing this project to fruition. Critical to our success has been the Power purchase agreement 60% of annual project output role played by the Clean Energy Finance PPA party EnergyAustralia Corporation (CEFC) and NORD/LB, in Construction jobs ~120 providing Infigen with $163 million debt facilities.” Operating jobs ~7

Revenues will be supported by a power purchase agreement (PPA) with EnergyAustralia for 60% of the annual output produced over the period to December 2030. The balance of output will be available for Infigen to contract to commercial and industrial customers, or to sell on the spot or wholesale market. The project is targeted to be fully operational in the second half of 2018.

The project will create a substantial number of jobs and stimulate significant economic activity in the local region. The project will provide approximately 120 direct jobs during construction and seven full time jobs during its operating life. Infigen looks forward to continuing to build strong links with the local community through these activities.

“The Bodangora project is set to deliver a substantial increase in clean energy in regional New South Wales, and is well positioned to capitalise on the state’s natural strengths in renewable energy. We have been pleased to work with Infigen and NORB/LB to accelerate the development and delivery of this important project,” said Andrew Gardner, CEFC Wind sector lead.

1Includes ~$0.8 million of restricted cash that is expected to be released in the coming week

“Together with CEFC, we are proud to have been able to support Infigen and GE with their Bodangora wind farm by providing a long-term financing package, tailored to the project's partially-contracted revenue structure. NORD/LB is committed to developing its presence in the Australian energy market with renewable energy generation being at the core of our strategy,” said Olaf-Alexander Wiedemann, CEO, NORD/LB Asia-Pacific.

Geoff Culbert, President & CEO, GE , New Zealand & Papua New Guinea, said, “We are pleased to bring energy experience and expertise to the Bodangora wind farm. The 33 GE 3.43 wind turbines to be installed are part of our newest, most powerful and scalable platform. Through our service and maintenance agreement, we also look forward to adding maximum value to the project for years to come."

Infigen owns 100% of the project, having acquired the 50% interest in the project that it did not own prior to financial close. As owner of 100% of the project, Infigen will provide 100% of the equity funding for construction and will operate the wind farm.

ENDS

For further information please contact:

Richie Farrell Marju Tonisson General Manager, Strategy & Corporate Affairs Manager, ESG & Investor Relations Tel +61 2 8031 9901 Tel +61 2 8031 9902

About Infigen Energy Infigen Energy (Infigen) is an active participant in the Australian energy market. It is a developer, owner and operator of renewable energy generation assets delivering energy solutions to Australian businesses and large retailers. Infigen owns 557 MW of installed generation capacity operating in New South Wales, South Australia and Western Australia; and sells the energy and Large-scale Generation Certificates through a combination of medium and long term contracts and through the spot market. Infigen is looking to develop further renewable energy projects in response to the strong demand for renewable sourced energy and decreasing cost of development. It has a number of projects that offer near-term development opportunities. Infigen trades on the Australian Securities Exchange under the code IFN. For further information please visit our website: www.infigenenergy.com

CEFC The Clean Energy Finance Corporation invests, applying commercial rigour, to increase the flow of finance into the clean energy sector. Our mission is to accelerate Australia's transformation towards a more competitive economy in a carbon constrained world, by acting as a catalyst to increase investment in emissions reduction. We do this through an investment strategy focused on cleaner power solutions, including large and small-scale solar, wind and bioenergy; and a better built environment, with investments to drive more energy efficient property, vehicles, infrastructure, and industry. The CEFC also invests with co-financiers to develop new sources of capital for the clean energy sector, including climate bonds, equity funds, aggregation facilities and other financial solutions. The CEFC operates under the Clean Energy Finance Corporation Act 2012. For more information please visit our website: www.cleanenergyfinancecorp.com.au

About NORD/LB NORD/LB was a pioneer in renewable energy project finance which since mid-1990s has financed over 13 GW of renewable projects worldwide, and with Bodangora wind farm this now includes over 320 MW in Australia. NORD/LB has built up a team of 12 renewable energy finance specialists to support its clients as they enter the growing Asia-Pacific renewables market. In 2016, NORD/LB ranked the world’s fourth largest Mandated Lead Arranger in Renewable Energy, with USD1.8 billion financed across 42 projects. For further information please visit our website: www.nordlb.com

About GE GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software- defined machines and solutions that are connected, responsive and predictive. GE is organised around a global exchange of knowledge, the “GE Store”, through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. For further information please visit our website: www.ge.com