AGL Energy Limited has agreed to sell a portfolio of small generation and compressed natural gas refuelling assets, known to AGL as the National Assets, to Sustainable Energy Infrastructure, a consortium led by Whitehelm Capital. AGL will record a profit on this transaction as a Significant Item when financial close occurs. The National Assets were recorded in AGL’s accounts for the six months ended 31 December 2017 with a carrying value of $74 million.
The portfolio of assets AGL is selling comprises 18 small generation operations located throughout Australia with a combined capacity of 81 MW, including landfill gas, biogas and biomass generation and cogeneration, in addition to compressed natural gas refuelling. The sale is consistent with AGL’s strategy of divesting non-core assets.