One US company, two deals and three Australian power stations go to market

Two separate deals have seen three Australian power stations owned by US-based AES Corp snapped up for a total of $294 million. The assets will return to Australian ownership.
One US company, two deals and three Australian power stations go to market One US company, two deals and three Australian power stations go to market One US company, two deals and three Australian power stations go to market One US company, two deals and three Australian power stations go to market One US company, two deals and three Australian power stations go to market

In a deal that will see its electricity generation capacity boosted by 50%, Origin Energy announced it will acquire the Mt Stuart power station in North Queensland from AES for $93 million.

"This project will increase Origin Energy portfolio of power generation and cogeneration projects by almost 50% to 880 megawatts," said Origin's managing director, Grant King.

In a separate deal, investment company Prime Infrastructure and investment banker Babcock & Brown will buy Ecogen's two gas-fired power stations in Victoria from AES for $201.25 million.

The acquisition will be Prime's first since listing in June, after scoring Australia's second biggest coal terminal, the Dalrymple Bay coal terminal near Mackay, as a foundation asset.

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