AES Transpower sells Newport and Jeeralang power stations to Babcock & Brown, Prime Infrastructure at $180m loss
First 3 of 3 paragraphs shown AES Transpower, a United States-owned utility outfit, has sold its Newport and Jeeralang power stations to Babcock & Brown and its listed investment offshoot, Prime Infrastructure, last Friday for a grand total of $81 million, reported The Age (18/12/02, p.12B). That's not a great result for a business bought for a whopping $261 million from Alan Stockdale as part of his $2.9 billion energy privatisation bonanza.
$53m loss on Mount Stuart: But, it wasn't only in the southern states that AES got its fingers burnt. It also announced on Friday, the $91 million sale of its 288-megawatt Mount Stuart generator in Townsville to Origin Energy. At the going rate of about $550,000 a megawatt to build peaking plant, AES would have spent $144 million building the plant in 1998-99.