BHP Power Sale.MELBOURNE, Australia--(BUSINESS WIRE)--December 18, 1998--The Broken Hill Proprietary Company Limited (BHP BHP blood hydrostatic pressure; the pressure exerted by the blood cells and plasma in the capillaries. ) today reached agreement with Duke Energy International, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (DEI) for the sale of its power business (BHP Power). The sale price is A$ 509 million and the transaction is expected to be completed in early 1999. The package includes power facilities and transmission assets in Western Australia Western Australia, state (1991 pop. 1,409,965), 975,920 sq mi (2,527,633 sq km), Australia, comprising the entire western part of the continent. It is bounded on the N, W, and S by the Indian Ocean. Perth is the capital. and New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. , BHP's share in the Goldfields n. 1. A small slender woolly annual (Lasthenia chrysostoma) with very narrow opposite leaves and branches bearing solitary golden-yellow flower heads; it grows from Southwestern Oregon to Baja California and Arizona; - it is often cultivated. Gas Transmission Pipeline in Western Australia, a development proposal relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc a co-generation plant at BHP's Port Kembla Port Kembla, Australia: see Wollongong. operations, and a portfolio of international and Australian-based projects subject to approval by joint venture partners. Duke Energy International (DEI) develops, owns and operates energy projects worldwide. Its capabilities include natural gas exploration, production, processing, transportation and supply, and generation, delivery and marketing of electric power and thermal energy thermal energy Internal energy of a system in thermodynamic equilibrium (see thermodynamics) by virtue of its temperature. A hot body has more thermal energy than a similar cold body, but a large tub of cold water may have more thermal energy than a cup of boiling . Mr P M (Paul) Anderson Anderson, river, Canada Anderson, river, c.465 mi (750 km) long, rising in several lakes in N central Northwest Territories, Canada. It meanders north and west before receiving the Carnwath River and flowing north to Liverpool Bay, an arm of the Arctic , BHP's Managing Director and Chief Executive Officer said the decision to sell these assets was made as part of the ongoing and systematic review of BHP's asset portfolio to ensure it delivers shareholder value. "Changes in the global power industry have presented BHP with an opportunity to obtain significant value for its high quality power assets. "While delivering efficiency and cost savings at its Pilbara and New Zealand operations, DEI is committed to working with us to develop power operations at other BHP sites, and as a customer of BHP's energy commodities," Mr Anderson said.
BACKGROUND INFORMATION BHP POWER BUSINESS
- Gas turbine facilities and transmission assets at Newman and
Port Hedland in Western Australia with a capacity of 280 megawatts
(MW). The Newman facility consists of three 35 MW gas turbines with an
adjacent switchyard. The Port Hedland facility includes a stand alone
three unit power generation facility and two turbines located at the
Port Hedland HBI plant
- Co-generation facilities with an installed capacity of 112 MW
and a waste heat boiler at BHP's New Zealand steelworks site at
Glenbrook, about 60 kilometres south of Auckland. These facilities are
fuelled by off-gases from the steelmaking process and supplemented by
natural gas
- A 11.843 per cent interest in the 1,400 kilometre Goldfields
Gas Transmission Pipeline in Western Australia. This pipeline extends
from the North West Shelf of Western Australia to Kalgoorlie and
transports gas to Newman - the centre of BHP Iron Ore's mining
operations in the Pilbara region
- A development proposal for a 220 MW co-generation plant at Port
Kembla steelworks in New South Wales
- BHP Power has a portfolio of international and Australian-based
development projects. BHP will be seeking to facilitate entry into
these projects for the Duke Energy International, in consultation with
the existing project partners
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