Marubeni, Osaka Gas, APA to Acquire AGL Development of Hallett 4 Wind Farm Project in South Australia

A consortium of Marubeni Corporation, Osaka Gas and APA Group have purchased 100% of the shares in Brown Hill North Pty Ltd, project company of the Hallett 4 wind farm project which is currently being developed by the major Australian energy company, AGL Energy Limited.

Within the consortium, Marubeni and Osaka Gas will each hold 39.9% and APA will hold 20.2% of the shares in the project.

The Marubeni/Osaka Gas/APA consortium, first partnering in December 2008 for the joint acquisition of the Energy Infrastructure Investments assets, have been looking for further opportunities to expand their business portfolio in Australia.

As part of this policy, the consortium is happy to announce that it will now be partnering in the Hallett 4 project with AGL, who has one of Australia's largest customer base in gas and electricity retail. This project will be the first renewable energy generation project in Australia for the consortium partners.

Hallett 4 is currently in the initial stages of construction, and at completion will have a wind-generated capacity of 132.3MW consisting of 63 x 2.1MW wind turbines.

It is scheduled to begin commercial operation in June 2011, at which time AGL will continue its participation in the project as the 25-year long-term offtaker, ensuring stable revenue flow to the project.

Related terms: acquisition, australia, business, commercial, construction, electricity, energy, gasoline, policy, renewable energy, retail, revenue