Duet to buy Energy Developments

OREANDA-NEWS. Australian gas pipeline operator Duet plans to buy Australia gas and power group Energy Developments for A\\$1.67bn (\\$1.23bn) funded through a A\\$1.67bn equity raising.

Energy Developments owns or operates about 900MW of power projects in Australia, the UK and the US, as well as the 200 t/d LNG production facility as part of the West Kimberley power project in Western Australia (WA).

Energy Developments also operates waste coal mine gas operations in Queensland where it extracts waste gas from hard coking coal mines and sells back electricity generation to coal mine operators. It operates 253MW of power generation capacity from waste coal mine gas.

The company also uses gas from landfill sites to supply a total of 262MW of power generation sites in Australia, the US and Europe manly under bilateral fixed price offtake contracts.

Duet operates the Dampier-Bunbury pipeline in WA and gas distribution networks in Victoria.