Alinta Energy’s owner, Chow Tai Fook Enterprises (CTFE), has entered into a conditional binding agreement to acquire the Loy Yang B power station.
The 1000MW plant, located in Victoria’s Latrobe Valley, provides about 17 per cent of the state’s energy needs.
“This transaction, led by the Alinta Energy team, adds modern, reliable and efficient baseload generation of scale to our portfolio and will further support us playing a key role as a responsible and growing energy company driving real competition on the east coast of Australia,” Alinta Energy managing director and CEO Jeff Dimery said.
“Alinta Energy is delighted that our owners have made this major investment in the State of Victoria.
“It will provide much-needed certainty for the Latrobe Valley and secure the future of the Loy Yang B power station, which will continue to deliver essential services to both Victoria and the NEM, for many years to come.”
Until completion the station will continue to be managed by ENGIE in Australia.