AGL Energy has sold its 50 percent stake within the 420 megawatts Macarthur wind park for AUD532 million to a privately-owned company HRL Morrison. The outstanding 50 percent of the country’s biggest wind farm will progressively be manned by Malaysian power provider Malak off Corporation Berhad.
AGL stated the magnitude of the contract is equivalent to“book value of the project” and as a result AGL will not put down a gain or loss on the deal.The Australian developer will carry on with the operation and maintenance of the project and preserve the rights to all renewable energy certificates and electricity yield till 2038, as stated by the company.
AGL stated the selling of the wind farm was one of its strategies to divest AUD$1 billion in assets by the end of the 2017 financial period. It has 1.9 gigawatts of renewable capacity online or underway. Not long ago it completed the building of the 102 megawatts Nyngan solar park, and in addition stated it would cut coal power generation – but not before its last plant, the Loy Yang A brown coal power station in Victoria, accomplishes 64 years of yield and closes down in 2048.
Macarthur wind farm was accomplished in April 2013, and utilizes 140 Vestas’ V112 3 mega watts wind turbine.