TXU wins bid for South Australia power station

TXU Co., Dallas, on Thursday said its wholly owned subsidiary TXU Australia has been awarded a lease to operate South Australia's largest power station. Under the long-term lease, TXU Australia will operate the Torrens Island Power Station, a 1,280-Mw, natural gas-fired generating station north of Adelaide, South Australia's capital.

May 5th, 2000


TXU Co., Dallas, on Thursday said its wholly owned subsidiary TXU Australia has been awarded a lease to operate South Australia's largest power station.

Under the long-term lease, TXU Australia will operate the Torrens Island Power Station, a 1,280-Mw, natural gas-fired generating station north of Adelaide, South Australia's capital. TXU Australia was awarded the lease by the Australian government after placing the winning bid of $295 million (Aus.).

The power plant consists of eight mid-merit and peaking units.

The transaction is "a good strategic fit with TXU Australia's existing businesses in Victoria," said Bob Shapard, CEO of TXU Australia. "It expands our portfolio across the energy market, from generation to the sale of energy to our customers." The deal also strengthens TXU Australia's unique merchant trading and risk management capabilities in Australia," Shapard said.

Based in Melbourne, TXU Australia serves more than 900,000 electric and gas customers and owns the only underground gas storage facility in Victoria.

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