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EnergyAustralia, one of the country’s leading energy retailers, today said it had completed a previously-announced transaction to acquire Ecogen Energy from funds management company IFM Investors for an enterprise value of $205 million.
The Newport and Jeeralang gas-fired power stations in Victoria represent 950 megawatts (MW) or up to 9 per cent of the state’s electricity generation capacity. The assets will be integrated into the company’s existing fleet of owned coal, gas, wind, commercial-scale battery and demand response assets and contracts.
EnergyAustralia has a portfolio of potential new generation projects including pumped hydro opportunities and permits for an aggregate of 1000 MW of new gas-fired capacity at Tallawarra near Wollongong and Marulan near Goulburn.