News

Staff Reporter

, Australia

Published:

4 months ago

217 views

Photo by Cytonn Photography via Pexels.

AGL to acquire Australia's Firm Power and Terrain Solar

The deal is worth $250m.

AGL Energy Limited has entered into a binding agreement for the full acquisition of the shares and units in Firm Power and Terrain Solar, which have a combined development pipeline of 8.1 gigawatts (GW) in Australia, for $250m.

“We believe this high-quality development pipeline presents strong optionality for AGL, focusing on firming capacity which will be required to firm new renewable generation for our customer base and portfolio as thermal baseload generation exits the NEM [national electricity market],” AGL Managing Director and CEO Damien Nick said.

Firm Power is a battery energy storage system developer with 21 projects in development, and Terrain Solar is a solar project developer with 6 projects in development.

The $250m acquisition is expected to be funded from cash on AGL’s balance sheet. It still is subject to customary conditions precedent, with completion anticipated in 2024.

Follow the link for more news on

AGL

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

Costly modules drag India's solar deployment

This has led to a shortfall in the rollout.

3 days ago

Global solar and wind energy capacity to reach new record in 2025

They will be critical in energising emerging sectors such as data centres.

3 days ago

India's offshore wind faces 12-year wait for grid parity

The VGF scheme may not be enough to fill the gap.

3 days ago

India’s VGF scheme enough to fund Indian BESS deployment

The country was urged to accelerate the distribution of funding available.

Lending & Credit

3 days ago

Exclusives

Cambodia urged to rethink its costly LNG ambitions

It should learn from peers who struggle to fuse the costly fuel into their energy systems.

Power Utility

5 days ago

Trump 2.0 could thump India's solar ambition

Its solar companies may need to set up manufacturing plants in the US to bypass tariffs.

5 days ago

Oracle Power in talks for $1.4b financing of hybrid RE plant in Pakistan

The 1.3 GW wind and solar plant may start supplying power to 1.2 million houses by 2028.

Project

Clean power must meet Asian demand amidst fading coal investment

Weaning the region off coal is a challenge, with rising electricity requirements.

Lending & Credit

Event News

Co-Written / Partner Sarawak Energy recognised with five honours at the Asian Power Awards 2024

Malaysia’s largest renewable energy developer received recognition for its digital transformation in power generation and advancements in sustainable hydropower development.