NZ energy firm buys up Australian power stations

New Zealand energy firm TrustPower has purchased selected New South Wales hydro and wind energy assets for more than $72 million.

The company, around half of which is owned by utilities investor Infratil, said it would buy the 58MW Hume hydro power station on the Murray River, the 27.2MW Burrinjuck hydro power station in south-west NSW and other assets from the NSW government’s Green State Power.

The NSW Greens have been critical of the acquisition, which is expected to be finalised next month, claiming the deal would damage opportunities for the renewable energy sector in the state.

TrustPower expects the hydro and wind assets will produce around 270GWh in an average year and would contribute around $8.5 million to the company’s earnings in the first full year of Trustpower ownership, according to Reuters.