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 by AusNet.
The sale will provide Origin with a pre-tax gain of $25 million, the company said.
The Connewarren Lane power station cost $800 million and came online in 2012. Origin began acquiring land in 2004. The site was chosen because of it location next to transmission lines.
A dedicated 83-kilometre gas pipeline was constructed from near Port Campbell to supply the plant. The plant employed more than 350 people during construction and operates with nine full-time staff.
