AGL Energy to build a new power station

Company News

by Rachael Jones

AGL Energy (ASX:AGL) has committed to spend $400 million building a new gas-fired power station near Newcastle.

It will consist of 14 reciprocating engine units capable of generating 18 MW of capacity each. It’s hoped construction will be completed by 2022.

This is also the year they plan to close the ageing coal-fired Liddell power plant.

AGL operates the country’s largest electricity generation portfolio and is the largest ASX-listed investor in renewable energy.

They have more than 3.6 million customer accounts.

Shares in AGL Energy (ASX:AGL) closed 1.46 per cent higher yesterday at $20.80.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.