Successful investment in Australian cogen plant

A 49.9% equity interest in Worsley Multi-Fuel Cogeneration has been acquired from GE Energy Financial Services.

The Worsley Cogen Facility is a two unit multi-fuel cogeneration plant commissioned in January 2014 and located in Collie, Western Australia.

Producing 550 tonnes per hour of steam and 104 MWe, the plant provides steam and electricity under a long-term contractual arrangement to South32 Limited’s Worsley Refinery.
Worsley CHP  

GE Energy Financial Services supported the project development of the circa A$1.2 billion Worsley Cogen and will be retaining a 50.1% interest alongside three new investors, MTAA Super, Prime Super and one other.

Investors were advised by Whitehelm Capital and the company’s Chief Investment Officer, Graham Matthews, said: ‘While many managers have been focusing on highly competitive trophy asset processes, the successful investment in the Worsley Cogen demonstrates that there is a pipeline of exclusive, quality, mid-cap regional infrastructure assets underpinned by long-term contractual arrangements and solid fundamentals.’

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