AGL Energy Limited has agreed to sell a portfolio of small generation and compressed natural gas refuelling assets, known to AGL as the National Assets, to Sustainable Energy Infrastructure, a consortium led by Whitehelm Capital. AGL will record a profit on this transaction as a Significant Item when financial close occurs. The National Assets were recorded in AGL’s accounts for the six months ended 31 December 2017 with a carrying value of $74 million.
The portfolio of assets AGL is selling comprises 18 small generation operations located throughout Australia with a combined capacity of 81 MW, including landfill gas, biogas and biomass generation and cogeneration, in addition to compressed natural gas refuelling. The sale is consistent with AGL’s strategy of divesting non-core assets.
AGL is committed to helping shape a sustainable energy future for Australia. We operate the country’s largest electricity generation portfolio, we’re its largest ASX-listed investor in renewable energy, and we have more than 3.6 million customer accounts. Proudly Australian, with more than 180 years of experience, we have a responsibility to provide sustainable, secure and affordable energy for our customers. Our aim is to prosper in a carbon-constrained world and build customer advocacy as our industry transforms. That’s why we have committed to exiting our coal-fired generation by 2050 and why we will continue to develop innovative solutions for our customers.