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December 14, 2010

TRUenergy to Acquire $2bn Energy Assets in Australia

TRUenergy has signed an agreement with the New South Wales (NSW) Government, Australia, to acquire energy assets in the state for $2bn. The firm will buy EnergyAustralia Retail, the Delta Western GenTrader Bundle for the Mount Piper and Wallerawang coal-fired power stations, and three p

By cms admin

TRUenergy has signed an agreement with the New South Wales (NSW) Government, Australia, to acquire energy assets in the state for $2bn.

The firm will buy EnergyAustralia Retail, the Delta Western GenTrader Bundle for the Mount Piper and Wallerawang coal-fired power stations, and three power station development sites.

EnergyAustralia Retail is the third largest electricity retailer in Australia’s National Electricity Market (NEM), retailing 21 terawatt-hours (TWh) per annum of electricity and nine petajoule (PJ) of natural gas per annum.

The Delta Western GenTrader Bundle comprises long-term exclusive off-take contracts to control the dispatch and buy the output of the black coal-fired power stations of Delta Electricity at Mount Piper and Wallerawang.

The Mount Piper power station has a power generating capacity of 1,400MW and the Wallerawang power station has a capacity of 1,000MW.

TRUenergy managing director Richard McIndoe said that the acquisition adds significant national scale to its existing business.

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The transactions, expected to be completed by March 2011, will bring TRUenergy’s portfolio of generation assets to 5,446MW.

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