NSW state governement sets deadline for Macquarie Generation bidders
The state government of Australia said that bidders for Macquarie Generation will have until the 19th of August to express their interest in the sale. The sale for Macquarie Generation sparked interest from industry players which includes Brisbane's ERM Power Ltd and Thailand's Ratchaburi Electricity Generating Holding Pcl. The sale of the New South Wales state owned company is part of the privatization program of the government to raise an estimated AUD3 billion.
The state of government announced that they expect to complete the sale during the 2013-2014 financial year. The Macquarie Generation sale represents 26% of the state's generation capacity. The offer for the electricity producer and wholesaler is tagged at an estimated AUD$1 billion or US$923 million.
The government said that after they receive the expressions of interest, they will select those that they consider qualified and will ask them to put in respective bids. The sale comes at a time when Australian infrastructure assets are showing strong demand due to the stable economy. This demand comes hand in hand with the interest from both overseas and domestic pension funds and strategic investors.