Ecogen Energy

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Ecogen Energy is a power station operator in Victoria, Australia. It operates two peaking power plants: the natural gas fired Newport Power Station and the gas turbine Jeeralang Power Station.

The company was privatised by the State Government of Victoria in March 1999, being sold to AES Corporation subsidiary AES Transpower for $350 million, the state retaining $11 million of cash from the business resulting in total proceeds of $361 million. Before this time Ecogen Energy was a trading name of the gas powered power stations operated by Generation Victoria.[1] AES Transpower sold Ecogen Energy in December 2002 to Babcock & Brown and their investment offshoot Prime Infrastructure for $81 million; a 73 per cent stake was sold to Babcock & Brown Power in 2006 for $59 million.[2] Babcock & Brown Power sold their stake to co-shareholder Industry Funds Management in 2008 for $87 million.[3]

References[edit]

  1. ^ "News Release, Office of the Treasurer: Ecogen Energy sold". www.robertclark.net. 28 March 1999. Archived from the original on 5 June 2008. Retrieved 2010-03-07. 
  2. ^ Rod Myer (13 November 2006). "Big expansion planned for Newport". The Age. theage.com.au. Retrieved 2010-03-07. 
  3. ^ "Babcock & Brown Power sells Ecogen to pay debt". The Australian. www.theaustralian.com.au. 18 July 2008. Retrieved 2010-03-07.