AGL Energy to sell its stake in 420 MW Macarthur wind farm

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AGL Energy to sell its stake in 420 MW Macarthur wind farm

AGL Energy has announced plans to sell its 50 % stake in the 420 MW Macarthur wind farm located in Australia.

The project was developed by a joint venture formed by AGL Energy and Meridian Energy. Later In 2013, Meridian sold its 50% share to Malaysia's Malakoff Corporation Berhad.

The Macarthur wind project, which is the largest wind energy project in Australia that was completed in early 2013, is composed by 140 3 MW Vestas V112 wind turbines. The wind farm is located on a 5,500 ha site about 16 km east of the town of Macarthur, in south western Victoria.

The total project investment was about A$1 billion and was fully operational in January 2013. It was constructed by Vestas and Leighton Contractors. The first turbines were connected to the grid in September 2012.

According to routers the stake has a book value of US$659 million, but that includes debt of US$529 million.

AGL operate retail and merchant energy businesses, power generation assets and an upstream gas portfolio. AGL has a diverse power generation portfolio - including base, peaking and intermediate generation plants - spread across traditional thermal generation as well as renewable sources including hydro and wind.

During the last two weeks we have reported about several wind projects globally:

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