Melbourne-based Australian Infrastructure Fund (AIF) has said that it is selling its 54.2% stake in Southern Hydro, a hydro generator in the state of Victoria which it only acquired in August.
The sale will be made to the Australian unit of Alliant Energy of the US for A$91.5M (US$47M). Alliant Energy Australia already holds a 22% stake in Southern Hydro.
The state government of Victoria privatised Southern Hydro in 1997, selling it off for A$391M (US$203M). The utility owns ten power plants with a total capacity of 460MW.
Madison, Wisconsin-based Alliant Energy owns utilities in four Midwestern states in the US.