Queensland in secret bid to buy stricken coal-fired power plant
It’s three years since Queensland power station Callide C blew up, and the fallout hasn’t stopped. Now, a secret deal for the government to buy a 50 per cent stake is in doubt.
Queensland is working on a secret deal to buy a 50 per cent stake in one of the state’s biggest coal-fired power plants, Callide C, but its plan must survive a legal challenge brought by a Czech billionaire’s family office.
Queensland’s CS Energy, a government-owned energy corporation, is seeking to pay about $230 million for the 50 per cent stake, including $67 million cash, waiving debts worth more than $160 million.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
