AusNet buys Mortlake Power Station

Company News


AusNet Services (ASX:AST) has agreed to pay Origin Energy (ASX:ORG) $110 million for the Mortlake Terminal Power station in Victoria. 
 
AusNet has been operating and maintaining the terminal station since it was commissioned in 2011. 
 
Under the deal AusNet will receive long-term fixed entitlements indexed to CPI. The first full year contribution in 2018 should deliver cash inflows of $8.8 million. 
 
AusNet says it is using existing debt facilities to fund the deal and has reaffirmed dividend guidance of 8.53 cents per share for this financial year. 
 
AusNet reported a net profit of $374.5 million for the full year ended 30th September 2015.