24 Jun 2014
Trustpower is pleased to announce that it has been successful in being selected by the New South Wales Government to purchase certain assets of Green State Power for A$72.2 million.
The assets include the 58 MW Hume hydro power station on the Murray River, the 27.2 MW Burrinjuck hydro power station in South West NSW, the 7.2 MW Keepit hydro power station, the 9.9 MW Blayney wind farm and 80% of the 4.2 MW Crockwell wind farm.
Trustpower believes that these assets will perform well within its existing renewable energy portfolio and that it is well experienced in the operation and maintenance of the type of assets being purchased.
Trustpower expects that in an average year the hydro and wind assets will produce around 270 GWh and in the first full year of Trustpower ownership will contribute around A$8.5 million to Group EBITDAF.
Settlement of the transaction is expected to occur before the end of July 2014.
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