Yallourn Energy

Yallourn operates a 1450MW power station and adjacent brown coal mine whose output is taken by the power station. CLP took its stake to 100% by buying out Deutsche Bank's 8% share in Jan 2003.

History

A consortium of Powergen, plus 3 Australian/1 Japanese finance companies, buy Yallourn Energy from state of Victoria for £1.2billion in March 1996. Powergen invest £220m equity.

The profit drops £10 million in the year 2000. (AR2000, Powergen)

On 27th February 2001, Powergen completed the sale of its stake to a joint venture company that is 80 per cent owned by CLP and 20 per cent owned by Powergen. This gave the joint venture 90.5 per cent stake in Yallourn Energy. (Press release "Unaudited results for the first half of 2001", Powergen)

The sale proceeds totalled £69 million but net assets disposed together with transaction costs totalled £70million. So Powergen lost £1million in the disposal.

CLP acquired all of Powergen's shares in their joint ventures in 2003.

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Company namesort icon Percentage Operates in
CLP 100.00