The Directors of Lyon Group have appointed administrators to Lyon Infrastructure Investments 1 Pty Ltd, Lyon Solar Pty Limited and Lyon Battery Storage Pty Limited (together “the Companies’) in order to facilitate a recapitalisation.
The other entities in the Lyon Group are unaffected.
The Directors have appointed Richard Hughes, and David Orr of Deloitte as voluntary administrators to the Companies.
The appointment of the voluntary administrators allows a pathway for development of Lyon’s tranche 1 fully integrated large dispatchable solar peaker projects to proceed to financial close.
Lyon Infrastructure Investments 1 Pty Ltd has two subsidiaries, Lyon Solar Pty Ltd and Lyon Battery Storage Pty Ltd. Magnetar Solar Australia DAC is a 25% investor in Lyon Solar Pty Ltd. Lyon made a previous statement about this matter on 27 February 2019.
Lyon Group media contact: Luke Brown, +61 (0) 0403 805 310, email@example.com
Enquiries regarding the voluntary administration should be directed to Deloitte’s Tony Ritchie on 0407 002 704 or firstname.lastname@example.org (media), or Lea Kuflik on (07) 3308 7150 (otherwise).