29 October 2013
Origin completes sale of TAWN assets
Origin Energy Limited (Origin) today announced the formal completion of the divestment of its Tariki, Ahuroa, Waihapa and Ngaere (TAWN) licences, as well as the Waihapa Production Station and associated gathering and sales infrastructure in New Zealand, to New Zealand Energy Corp (NZEC). In a related transaction, NZEC transferred the Ahuroa licence to Contact Energy.
All conditions associated with the Sale and Purchase Agreement have been satisfied.
Origin's sale consideration is CDN$30 million plus a 9 per cent royalty payable on all future hydrocarbon production from the Tariki, Waihapa and Ngaere licences.
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Origin progresses plans for nation’s largest battery at Eraring Power Station
Origin Energy Limited (Origin) is progressing plans for a battery at Eraring Power Station in NSW, with an overall capacity of up to 700 MW and a dispatch duration of 4 hours, making it the largest battery project currently under consideration in Australia.