AGL Energy Ltd
(ASX:AGL) has announced that it reached financial close for the sale of its Silverton wind farm project in western NSW.
AGL sold the wind farm for $36 million to the Powering Australian Renewables Fund – which is a partnership comprising AGL, QIC and the Future Fund.
This sale includes AGL writing an offtake agreement with Silverton wind farm. It is also not expecting to make a profit from this transaction.
AGL says the 200 MW Silverton Wind Farm will produce around 780,000 megawatt hours of renewable energy per year, and can power more than 137,000 average Australian homes.
AGL posted a net loss of $407 million at 30 June 2016.
