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AGL sells of its 50% share of Diamantina Generator


Source: The Australian, 29 March 2016

AGL Energy has offloaded its 50 per cent stake in the Diamantina Power Station to joint venture partner APA Group for $151 million as it continues to shed unwanted assets.

Chief financial officer Brett Redman said Diamantina was not a strategic asset for AGL and the sale price for the remaining interest in the Queensland gas-fired power plant was above book value.

AGL will continue to supply gas to the Diamantina Power Station under an existing sales agreement which runs until 2023.

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