Media365
Sembcorp Industries will acquire 100 per cent ownership of Alinta and its units as well as Latrobe Valley Power (LVP) and its subsidiaries from Pioneer Sail Holdings, which is owned by CTFE and Pioneer Sail Singapore, according to Sembcorp’s filing with the Singapore stock exchange on Thursday evening.
Alinta owns a portfolio of power-generation assets and a gas and electricity retail business throughout Australia, while LVP owns and operates the coal-fired Loy Yang B Power Station in the Latrobe Valley in Victoria, in the southeastern corner of the country.
The group also holds joint-venture interests in the Yandin Wind Farm in Western Australia and the Spinifex Offshore Wind development off the coast of Victoria.
As of June, Alinta had a book value of A$2.5 billion and net tangible assets of A$758 million, while net profits before income tax and before non-controlling interests were A$530 million.
“Our eight-year investment in Alinta has played an important role in providing reliable and affordable energy to Australians,” said Henry Cheng, Chow Tai Fook Group chairman. “I am immensely proud of what the CTFE and Alinta teams have accomplished on the energy transition journey.”
