AGL sells small generation portfolio of assets

AGL Energy CEO Andy Vesey

AGL Energy has agreed to sell a portfolio of small generation and compressed natural gas refuelling asset to a consortium led by Whitehelm Capital.

Sustainable Energy Infrastructure is managed by Whitehelm Capital and owned by two leading Australian superannuation funds, MTAA Super and Commonwealth Bank Group Super.

The portfolio of assets, worth $74 million, comprises 18 small generation operations with a combined capacity of 81MW, including landfill gas, biogas and biomass generation and cogeneration, in addition to compressed natural gas refuelling.

The assets are located across six states in Australia, are fully operational under long-term contracts, and diversified by geography, feedstock, technology, and customers.

“The Sustainable Energy Infrastructure business is consistent with our focus on stable, mid-market infrastructure assets across Australia and developed Asia and we look forward to working with the experienced management team to grow the business,” Whitehelm Capital head of Australia and Asia Saji Anantakrishnan said.

“This acquisition follows the successful refinancing of a Whitehelm-managed 104MW multi-fuel cogeneration facility in Western Australia and the expansion of our sustainable energy footprint across Australasia.

“While large trophy assets sold through competitive auctions are attracting very high prices, the mid-market continues to provide good investment opportunities for investors seeking stable returns from true infrastructure assets.”