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REUTERS/David Gray Acquire Licensing RightsSYDNEY, Nov 24 (Reuters) - The long-term value of hotly contested $10.6 billion takeover target Origin Energy (ORG.AX) has been muddied by a government plan to accelerate the rollout of renewable energy, announced just hours before a key shareholder vote. However, the potential for new investment via the government's scheme undercuts Brookfield's argument that Origin and Australia needed its deep pockets to decarbonise quickly, Vickerson said. Pension giant AustralianSuper has argued Origin's stake in fast-growing British renewable energy company Octopus Energy, gas assets and millions of customers position the company well for the energy transition. The government's new scheme only strengthens the fund's conviction about Origin, according to a person familiar with AustralianSuper's thinking. However, Simon Mawhinney, chief investment officer at fund manager Allan Gray, which owns a roughly 3% stake in Origin, said the government's plan appears likely to push down returns.

Persons: David Gray, AustralianSuper, Max Vickerson, Vickerson, Brookfield, Tom Leske, Simon Mawhinney, Allan Gray, Lewis Jackson, Sonali Paul Organizations: REUTERS, Rights, Energy, Morgans, Origin, AGL Energy, Churchill Capital, Octopus Energy, Thomson Locations: Sydney, Chatswood, Australia, Brookfield

☆ Australia's AGL partners with BP to offer discounted charging to NSW customers
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +1 min

June 15 (Reuters) - Australia's AGL Energy (AGL.AX) said on Thursday it has partnered with energy giant BP (BP.L) for a three-year agreement to offer discounted charging to drivers of electric vehicles in New South Wales, as more companies look to pivot to green energy. Under the deal, the company and BP Pulse, the electric vehicle charging business of the London-based firm, will offer customers in New South Wales special charging rates and ultra-fast chargers when they sign up for AGL's existing Electric Vehicle (EV) at-home programme. BP said the agreement is in line with its strategy to roll out its network of 600 BP Pulse EV charging points across Australia by 2025. "As we transition to a low-carbon future, this agreement will empower our customers with innovative, sustainable and cost-effective EV charging solutions," AGL Chief Customer Officer Jo Egan said. The demand for electric vehicles has been on the rise recently, with multiple companies looking to expand their portfolios towards sustainable energy.

Persons: Jo Egan, Archishma Iyer, Pooja Desai Organizations: Energy, BP, Thomson Locations: New South Wales, London, Australia, Bengaluru

☆ Activist investing cries out for some pushback
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +2 min

The number of aggressive investing campaigns led by firms such as Paul Singer’s Elliott Management and Nelson Peltz’s Trian Fund Management swelled last year, including from a record arrival of rookie practitioners. It represents a 36% increase from 2021 and the busiest year since 2018, when there were 249. There were also 55 first-time activists last year, who initiated more than a third of the campaigns. If the result is no better than a coin flip, it gives shareholders and boards fresh reason to question an activist’s arrival. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Forrest said in a statement Squadron had acquired CWP Renewables but did not disclose the price. And the more we create and deploy new renewable energy, the cheaper it becomes for every Australian and the world," Forrest told Reuters after the announcement. With CWP Renewables, Squadron would have the scale it needs to meet demand from large commercial and industrial customers for reliable green energy in eastern Australia, he said. Willoughby said CWP aimed to give the go-ahead by March 2023 to build a 400 MW wind farm, which would cost more than A$1 billion. There are literally trillions of dollars of capital looking for green energy projects," he said.

SYDNEY/MELBOURNE, Dec 7 (Reuters) - Mining billionaire Andrew Forrest's private firm Squadron Energy has acquired CWP Renewables in Australia for more than A$4 billion ($2.7 billion), three people familiar with the deal said on Wednesday. Forrest said in a statement Squadron had acquired CWP Renewables, owner of 1.1 gigawatts of wind farms and a development pipeline of 1.3 GW of wind and solar farms in Australia, but did not disclose the price. CWP was sold by Swiss-based investor Partners Group (PGHN.S), which said it built the Australian business up after first investing in the Sapphire Wind Farm in the state of New South Wales in 2016. Other companies that had looked at CWP included Spain's Iberdrola (IBE.MC), Tilt Renewables, partly owned by AGL Energy (AGL.AX), and Origin Energy (ORG.AX), all aiming to expand in renewable energy as Australia speeds up its transition away from coal-fired power. With CWP Renewables, Squadron would have the scale it needs in eastern Australia to meet demand from large commercial and industrial customers for reliable green energy, Forrest said.

Nov 10 (Reuters) - Origin Energy Ltd (ORG.AX), Australia's no.2 power producer and energy retailer, backed an A$18.4 billion ($11.8 billion) non-binding buyout offer from a consortium led by Canada's Brookfield Asset Management, the companies said on Thursday. The deal sent Origin's share price soaring nearly 40% in early trade to A$8.14. Origin opened its books to the consortium after it raised its offer to A$9 per share in cash, a near 55% premium to Origin's last close of A$5.81. The bid from Brookfield comes after it was rebuffed earlier this year when it led a $3.5 billion takeover offer for Australia's top power producer, AGL Energy (AGL.AX). Under the indicative proposal submitted on Thursday, Brookfield would acquire Origin's energy markets business, while MidOcean Energy, the other consortium partner, would take control of Origin's integrated gas business, including its 27.5% stake in Australia Pacific LNG (APLNG).

☆ Aussies put net-zero nationalisation on the map
▼ + stars: | 2022-10-21 | by ( Antony Currie | ) www.reuters.com time to read: +4 min

MELBOURNE, Oct 21 (Reuters Breakingviews) - Nationalisation and capitalism are supposed to be like chalk and cheese. He also accused privately run energy generators of reaping huge profits “at our collective expense” without helping to achieve net-zero goals. If done right — and the details will be key — other governments facing similar net-zero challenges can take note. His plan involves restoring the State Electricity Commission to build new renewable energy projects. The SEC has not been involved in building energy projects since 1993 when the state’s energy assets were privatised.

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