Meridian mulls quitting passive stake in Australian wind farm

Mon, 07 Jan 2013

By Pattrick Smellie Jan 8 (BusinessDesk) - Meridian Energy is considering the sale of its 50 percent stake in the A$1 billion Macarthur wind farm in the Australian state of Victoria to book gains made available by the global drop in interest rates. The state-owned enterprise's chief executive, Mark Binns, told BusinessDesk the company stood to earn a "bond-like" return over the 25 year life of its joint venture arrangements for the massive 420 megawatt windfarm, which it is building with Australian energy generator and retailer AGL. The proj...

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