Eutility's weekly news

Bids set to fly for Engie, Mitsui's Loy Yang B

Bids set to fly for Engie, Mitsui's Loy Yang B

Private equity can sense an opportunity at Engie's $1 billion-odd Loy Yang B power station.

With the country's big three utilities sitting on the sidelines, Asian investors still lukewarm on Australian coal-fired generators and traditional bank funding tight, industry players are pointing towards new or returning private equity investors.

Street Talk can reveal auctioneer Rothschild has asked for indicative bids on May 19, and early expectations are that private equity tyrekickers will be best represented come the sale's second round.

Blackstone is the bidder on most watchers' lips, while other private equity firms with form in the power market such as Pacific Equity Partners and KKR are also taking a look.

Financial Review

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