Australia’s AGL Energy has added more than 60% to its generation capacity after formally taking ownership of the 1,280 MW gas-fired Torrens Island Power Station (TIPS) in South Australia from TRUenergy.

As part of the transaction, AGL has also acquired a 10-year, gas sales agreement expiring in 2017, together with the associated SEAGas pipeline haulage contract which expires in 2019..

AGL has also entered into a gas storage agreement with TRUenergy for a combination of firm and non-firm capacity at the WUGS facility at Port Campbell, Victoria, with the agreement through until 2017. As part of the transaction TRUenergy assumed ownership of the Hallett power station.