Australian infrastructure investor IFM is seeking to sell two gas-fired power plants, looking to exit the long-term investment amid uncertainty over Australia’s climate and energy policy, two industry sources said.
The sale of the Ecogenassets comes as gas and power prices are soaring, while state and national leaders brawl over carbon emissions targets and energy policy, factors that have scared off big infrastructure investors.
“It’s not a regime that is inviting for investors,” Ian Silk, chief executive of AustralianSuper, the country’s largest pension fund, said at a Reuters event last week. He called the energy market a “dog’s breakfast”.
The sale process was in its early stages and information memorandums had not yet been sent to prospective buyers, said one of the sources with knowledge of the matter.Read More…