Meridian Energy has announced it has sold its interest in Macarthur wind farm to Malakoff Corporation Berhad, a Malaysian power generator and retailer for A$ 659 million.
Macarthur is operated by AGL Energy Limited. Meridian and AGL have been working on the development since 2007 and in 2010 entered into a 50:50 joint venture to build Macarthur. While the Macarthur investment was intended to be held over the full project term, the low interest rate environment and the opportunity to invest in further wind farms in Australia provided a compelling reason to look at a sale and the reinvestment of funds in future renewable generation options in Australia according to Meridian Chief Executive Mark Binns.
