Origin Energy sells Mortlake station for $110m
Origin Energy is selling its Mortlake terminal station to energy network business AusNet Services for a cash consideration of $110 million.
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The sale is part of the troubled energy producer and retailer's plan to divest non-core assets worth $800 million, as it bolsters its balance sheet to ride out the slump in energy prices.
The terminal station connects Origin's Mortlake power plant to Victoria's electricity network, and is already operated and maintained by AusNet.
The sale will provide Origin with a pre-tax gain of $25 million, the company said.