UPDATE 3-Alinta bids for AGL's Liddell coal-fired plant in Australia [Reuters]
AGL ENERGY LTD ADR (AGLNY)
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Source: Reuters
UPDATE 3-Alinta bids for AGL's Liddell coal-fired plant in Australia | Reuters Reuters Staff 4 Min Read * AGL says considering bid * AGL wants to hold on to Liddell until 2022 * AGL plans to replace Liddell with $1 bln of new capacity * Alinta would spend about A$750 mln to improve Liddell-source (Adds analyst comment) By Sonali Paul MELBOURNE, April 30 (Reuters) - Chinese-owned Alinta Energy offered A$250 million ($189 million) on Monday for Australia’s ageing Liddell coal-fired power plant, creating a headache for owner AGL Energy amid a national debate over energy security. AGL has long flagged plans to shut the plant in 2022 as part of a phased exit from coal-fired power, but has come under pressure from the federal government to sell it to ensure back-up generation for intermittent wind and solar power. Prime Minister Malcolm Turnbull told AGL’s chairman this month it would be in the public interest to keep the plant open or sell it, after Alinta, owned by Hong Kong conglomerate
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