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Alinta Energy to acquire Australian Loy Yang B coal plant

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World Coal,

Alinta Energy’s owner, Chow Tai Fook Enterprises (CTFE), has entered into a conditional binding agreement to acquire the Loy Yang B coal-fired power plant in Australia (ENGINE 70%: Mitsui 30%).

Jeff Dimery, Alinta Energy Managing Director and CEO, said: “This transaction, led by the Alinta Energy team, adds modern, reliable and efficient baseload generation of scale to our portfolio and will further support us playing a key role as a responsible and growing energy company driving real competition on the east coast of Australia.”

The 1000 MW plant, in Victoria’s Latrobe Valley, provides about 17% of the State’s energy needs.

“Alinta Energy is delighted that our owners have made this major investment in the State of Victoria. It will provide much-needed certainty for the Latrobe Valley and secure the future of the Loy Yang B power station, which will continue to deliver essential services to both Victoria and the NEM, for many years to come,” added Dimery.

Until completion the power plant will continue to be managed by ENGIE in Australia.

Isabelle Kocher, ENGIE CEO, commented: “This transaction confirms ENGIE’s positioning in low-carbon generation, energy infrastructures and integrated customer solutions. I would like to thank the Loy Yang B staff for their commitment as we are now going to work with Alinta Energy to ensure a smooth transition.”

After this sale, coal will represent 6% of ENGIE’s global power production capacities, when it represented 13% at the end of 2015.

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Australia coal news