A consortium led by Macquarie Group has completed the acquisition of a controlling stake in one of Australia’s biggest public energy companies.
The sale of a 50.4% stake in Endeavour Energy to the Advance Energy consortium will deliver AUD7.6 billion (US$5.6 billion) to the New South Wales (NSW) government.
The Advance Energy consortium is formed by Macquarie, AMP Capital, Qatar Investment Authority and British Columbia Investment Management Corporation. The NSW government will control the remaining 49.6 per cent stake in Endeavour Energy.
Hastings Funds management and Spark Infrastructure, two Australian companies, also submitted a bid for the sale.
Endeavour Energy is a state government owned electricity infrastructure company which owns, maintains and operates the electrical distribution network to supply 2.4 million people in households and businesses across Sydney's Greater West, Blue Mountains, Southern Highlands the Illawarra and the South Coast.
This is the third transaction realized by the NSW government under an “asset recycling” policy. The NSW government has raised more than AUD20 billion over three years through this policy
Goldwind has announced that its northern New South Wales' solar farm, White Rock Solar Farm, has reached financial close following the award of a grant from the Australian Renewable Energy Agency (ARENA).
Read moreQueensland continues to add more renewable megawatts and more renewable jobs to its economy, with the latest milestone for the Collinsville Solar farm reaching financial close.
Read moreAustralian utility Origin Energy Ltd has agreed to sell Stockyard Hill wind project to China’s Goldwind and to sign a and sign a long-term PPA from the commencement of operations in 2019 to 2030.
Read moreFirst Infrastructure Capital Advisors, a subsidiary of Quanta Services, held a US$750 million first close on its debut fund, First Infrastructure Capital.
Read moreCanadian Solar has announced that it has secured AUD65 million (US$50 million) of non-recourse project financing with a 5-year term for two of its solar farm power projects in Australia with the Bank of Tokyo-Mitsubishi UFJ, Ltd. (MUFG) and Clean Energy Finance Corporation (CEFC).
Read more