Macquarie Generation sale clear to proceed
AGL Energy is clear to take over Macquarie Generation after the ACCC decided not to fight the sale.
The $1.5 billion asset sale includes the Bayswater and Liddell power stations and is expected to be funded by way of a renounceable rights issue (the Offer) to existing shareholders raising approximately $1.2 billion and $350 million of bank debt.
The Macgen power stations will give AGL ownership of the lowest cost, large-scale baseload generators in New South Wales and will increase AGL’s registered generation capacity by approximately 79% to more than 10,600 MW. This would bring AGL’s share of generating capacity in the National Electricity Market to approximately 21%.
Other Articles from this issue
Incentive to explore
NSW has some of the best minerals deposits in the world, and the more we know about them the better we can understand th...
NSW winning the solar race
NSW is leading Australia in developing renewable energy with the nation’s largest solar plant receiving its first solar ...
How are you communicating to your staff?
Staff will mirror how you communicate to them. Are you coming from a place of fear or from a place of responsibility?
Crosbie moving to Newcastle West
In August, the Crosbie group will bring more than 100 employees into the fast growing Newcastle West precinct.
