Secret documents show Origin was desperate to offload its Eraring power plant because it was having trouble attracting capital amid the investor flight from fossil fuels.
Origin Energy’s investment in the Eraring coal-fired power station was a sticking point with investors and a clamp on attracting capital, secret documents outlining the company’s pitch to offload the loss-making plant to the NSW government reveal.
But documents outlining more than six months of negotiations between the government and Origin revealed the fine balancing act state and federal governments have in securing energy certainty without discouraging new investment in the sector. In briefing notes from the meeting in September, Mr Perkins told the department head that capital markets had changed in the past 24 months from a “maximum 20 per cent focus on [environmental social governance]” to a “total focus” on Eraring when considering Origin.“He has just finished over 40 investor meetings,” Mr Hay wrote in a note after the meeting. “Origin has an imperative to act on this ...
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