LOCATION/TYPE

NEWS HOME

[ exact phrase in "" • results by date ]

[ Google-powered • results by relevance ]


Archive
RSS

Add NWW headlines to your site (click here)

Get weekly updates

WHAT TO DO
when your community is targeted

RSS

RSS feeds and more

Keep Wind Watch online and independent!

Donate via Paypal

Donate via Stripe

Selected Documents

All Documents

Research Links

Alerts

Press Releases

FAQs

Campaign Material

Photos & Graphics

Videos

Allied Groups

Wind Watch is a registered educational charity, founded in 2005.

News Watch Home

Origin sells NSW wind farm to Duet Group 

Credit:  AAP | June 17, 2016 | www.theaustralian.com.au ~~

Origin Energy has agreed to sell its Cullerin Range wind farm in NSW to Duet Group for $72 million, as part of an ongoing program to offload non-core assets.

It will continue to source electricity from the project after signing a long term offtake agreement.

The 30 megawatt wind farm, located near Goulburn in southern NSW, was set up in 2009.

The sale is part of Origin’s plan to raise $800 million through divestment of non-core assets that began in September 2015, aimed at strengthening its balance sheet amid a slump in oil prices.

The company has said asset sales would include infrastructure and wind energy assets, and its interests in oil and gas fields in the Cooper and Perth basins.

Including the Cullerin sale, Origin has so far raised $468 million through asset sales.

The gas and power retailer made a loss of $254 million in the first half of 2015/16 on the back of the oil price slump, which also forced it to raise $2.5 billion through an equity raising in 2015, and outline massive cost cuts in an effort to pare back debt.

Origin’s balance sheet has been weighed down by the development of the giant Australia Pacific LNG (APLNG) project in Queensland.

It has preferred to invest in solar projects as part of its shift toward renewables, and in May agreed to buy the entire output from an under development solar farm in Queensland.

Origin shares were up one cent at $5.35 at 1305 AEST, while Duet Group was down 2.5 cents at $2.435.

Source:  AAP | June 17, 2016 | www.theaustralian.com.au

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial educational effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

Wind Watch relies entirely
on User Funding
   Donate via Paypal
(via Paypal)
Donate via Stripe
(via Stripe)

Share:

e-mail X FB LI TG TG Share


News Watch Home

Get the Facts
CONTACT DONATE PRIVACY ABOUT SEARCH
© National Wind Watch, Inc.
Use of copyrighted material adheres to Fair Use.
"Wind Watch" is a registered trademark.

 Follow:

Wind Watch on X Wind Watch on Facebook

Wind Watch on Linked In Wind Watch on Mastodon