Perth, Australia-based gas and power provider Alinta has sold its Wattle Point Wind Farm to a wholly-owned subsidiary of the ANZ Energy Infrastructure Trust, for A$225 million.
The Energy Infrastructure Trust (EIT) is managed by ANZ Infrastructure Services (ANZIS), and acquires or develops energy-related utility and infrastructure assets in Australia and New Zealand.
Alinta acquired the wind farm, which is near Edithburgh on South Australia’s Yorke Peninsula, as part of the merger of Alinta and AGL’s infrastructure assets in October 2006.
John Clarke, managing director of ANZIS, said: Wattle Point Wind Farm is one of the largest operating wind farms in Australia and has a long-term capacity based offtake from AGL. We are pleased with this acquisition which complements EIT’s other investments.
Alinta said that, under the terms of its planned acquisition by a consortium comprised of Babcock & Brown and Singapore Power International, Babcock & Brown Wind Partners will receive A$211 million of the sale proceeds if the acquisition of Alinta is completed. The sale proceeds in excess of A$211 million will be returned to Alinta shareholders, who will also receive shares in Babcock & Brown Wind Partners.
Acting Alinta CEO Peter Magarry said: The sale of the Wattle Point Wind Farm is at a price substantially in excess of the strike price of A$211 million under Alinta’s option to put the asset back to AGL Energy. This is an excellent result for Alinta shareholders.