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China/Australia: Government closes first round of power generator sell-off

 |  July 29, 2013

The Australian government announced it has finalized the first round sale of several power generators, which will see two generators land with China Light and Power’s Australian branch EnergyAustralia. The company, based in Hong Kong, made the purchase for $475 million and will have full control of the stations, the Wallerawang and Mr. Piper generators. According to reports, the deal, made on Thursday, resulted in EnergyAustralia controlling more than 2400 megawatts of electric capacity. The government will now focus on the sale of two more stations that are valued at about $2 billion. The government expects interest from AGL Energy and will be closely monitoring the Australian Competition and Consumer Commission’s opinion of the sale.

Full Content: The Age

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