Company News Summary
APA Group Completes Financing of Diamantina Power Station with AGL
Original announcement: APA and AGL complete financing of Diamantina Power Station
APA Group reported the Company and AGL Energy have completed limited-recourse project financing of the 242 MW Diamantina Power Station (DPS) and 60 MW back-up generation capacity at Mount Isa. APA and AGL are developing the DPS through a 50:50 jointly owned vehicle, Diamantina Power Station. The total capital expenditure, including the back-up generation, is expected to cost $570m (before financing costs). APA's equity contribution is expected to be about $100m and will be funded from available cash and committed facilities. The DPS is expected to become fully operational in the first half of calendar 2014.
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