Ecogen Energy is a power station operator in
Victoria
Victoria most commonly refers to:
* Victoria (Australia), a state of the Commonwealth of Australia
* Victoria, British Columbia, provincial capital of British Columbia, Canada
* Victoria (mythology), Roman goddess of Victory
* Victoria, Seychelle ...
,
Australia
Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...
. It operates two
peaking power plant
Peaking power plants, also known as peaker plants, and occasionally just "peakers", are power plants that generally run only when there is a high demand, known as peak demand, for electricity. Because they supply power only occasionally, the power ...
s: the natural gas fired
Newport Power Station
The Newport Power Station was a complex of power stations located on the west bank of the Yarra River, approximately 6 km south-west of Melbourne, Victoria (Australia), Victoria, Australia, in the suburb of Newport, Victoria, Newport. Newpo ...
and
Jeeralang Power Station
Jeeralang Power Station is a gas turbine power station with a capacity of near Morwell, Victoria, Australia. The station is a peaking facility which is used only during periods of peak demand, and is also used as a black start facility to res ...
.
Until 1999 Ecogen Energy was a trading name of
Generation Victoria, and was the operator of gas powered power stations. The company was sold by the State Government of Victoria in March 1999 to
AES Corporation
The AES Corporation is an American utility and power generation company. It owns and operates power plants, which it uses to generate and sell electricity to end users and intermediaries like utilities and industrial facilities. AES is headquart ...
subsidiary AES Transpower for $361 million, $350 million going in debt reduction and the state receiving $11 million.
AES Transpower sold Ecogen Energy in December 2002 to
Babcock & Brown
Babcock & Brown LP was a global investment and advisory firm, established in 1977, based in Sydney, Australia, that went into liquidation in 2009.
Babcock & Brown Securities LLC was an active investment banking firm focused on equipment and proj ...
and their investment offshoot Prime Infrastructure for $81 million. A 73% stake was sold to
Babcock & Brown Power in 2006 for $59 million. Babcock & Brown Power sold its 73% interest to co-shareholder Industry Funds Management in 2008 for $87 million, which held the remainder of the shares.
In 2018, Ecogen was sold by IFM Investors to
EnergyAustralia
EnergyAustralia (formerly TRUenergy) is an electricity generation, electricity and gas retailing private company in Australia, a wholly owned subsidiary of the Hong Kong-based and listed China Light and Power (CLP Group). EnergyAustralia also ...
for $205 million.
References
{{reflist
External links
Ecogen Energy Sale Agreement(26 March 1999)
Electric power companies of Australia