AusNet sells out

By Lachlan Ellis

AusNet Services, owner and operator of Victoria’s transmission network, has officially been sold to a Canadian multinational, with the new ownership coming into effect on February 16 this year.

On 1 November last year, AusNet put out a media release stating that it had agreed to the terms of a Scheme Implementation Deed (SID), “under which Brookfield is to acquire all the shares in AusNet for cash consideration by means of a scheme of arrangement”.

The purchase was undertaken by a consortium led by Brookfield Asset Management Inc., which includes Sunsuper Superannuation Fund, Alberta Investment Management Corporation, and the Investment Management Corporation of Ontario.

Brookfield is one of the world’s largest alternative investment management companies, investing in renewable power, real estate, infrastructure and more, in over 30 countries.

When asked about AusNet’s Western Victoria Transmission Network Project (WVTNP), and whether Brookfield would push for it to be put underground, a spokesperson for Brookfield told the Moorabool News the project’s planning was ongoing.

“Brookfield understands the energy transition journey that Victoria and Australia are currently experiencing, and the critical role that projects like the Western Victorian Transmission Network Project play in facilitating that transition,” Brookfield’s spokesperson said.

“There is still a long way to go to develop the project, and Brookfield supports AusNet to continue its exploration of options and working closely with landholders and the local community.”

To read the full story – Simply click on the following link

https://issuu.com/themooraboolnews/docs/mn_2022-04-05/9

in the 5 April 2022 edition
OR
pick up a paper around your town.