AGL to build new $295M South Australian power station

Company News

by Jessica Amir

AGL Energy Limited (ASX:AGL) is set to invest $295 million in the development of a new power station in South Australia.

The electricity, gas and solar energy provider says the 210 mega watt power station, will be built next to AGL’s Torrens Island Power Station, near Adelaide.

Construction of the Barker Inlet Power Station will begin in the third quarter of this year, with full operation tipped for the first quarter of the 2019 calendar year.

AGL says the new power station will replace two of the four Torrens A turbines, which are 50 years old.

The company says the development will help to secure energy for South Australia as the market transitions.

Shares in AGL Energy Limited (ASX:AGL) are trading 0.36 per cent higher to $25.04.
 

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?