Ecogen Energy is a power station operator in Victoria, Australia. It operates two peaking power plants: the natural gas fired Newport Power Station and Jeeralang Power Station.
Until 1999 Ecogen Energy was a trading name of Generation Victoria, and was the operator of gas powered power stations.[1] The company was sold by the State Government of Victoria in March 1999 to AES Corporation subsidiary AES Transpower for $361 million, $350 million going in debt reduction and the state receiving $11 million.
AES Transpower sold Ecogen Energy in December 2002 to Babcock & Brown and their investment offshoot Prime Infrastructure for $81 million. A 73% stake was sold to Babcock & Brown Power in 2006 for $59 million.[2] Babcock & Brown Power sold its 73% interest to co-shareholder Industry Funds Management in 2008 for $87 million,[3] which held the remainder of the shares.[4] In 2018, Ecogen was sold by IFM Investors to EnergyAustralia for $205 million.[5]
References edit
- ^ "News Release, Office of the Treasurer: Ecogen Energy sold". robertclark.net. 28 March 1999. Archived from the original on 5 June 2008. Retrieved 7 March 2010.
- ^ Rod Myer (13 November 2006). "Big expansion planned for Newport". The Age. theage.com.au. Retrieved 7 March 2010.
- ^ "Babcock & Brown Power sells Ecogen to pay debt". The Australian. theaustralian.com.au. 18 July 2008. Retrieved 7 March 2010.
- ^ Macdonald-Smith, Angela (28 July 2017). "IFM Investors to sell Victorian gas-fired power stations". Australian Financial Review.
- ^ "EnergyAustralia completes Ecogen Energy transaction" (Press release). EnergyAustralia. 17 April 2018. Retrieved 18 October 2019.
External links edit
- Ecogen Energy Sale Agreement (26 March 1999)