Business
Why is the APA Group (ASX:APA) share price trading flat today?
The APA Group (ASX: APA) share price is trading relatively flat this morning after the company announced its first hybrid energy investment. Shares in the energy infrastructure business are currently trading just 0.00% higher at a price of $10.12.
What is the investment?
APA Group announced a 2-phase power expansion agreement with existing customer Gold Road Resources Ltd (ASX: GOR) in Western Australia. It’s a $38 million investment that will boost total installed capacity from 45MW to 64MW.
The agreement includes the creation of a hybrid energy microgrid, making it APA’s first hybrid energy investment.
The company will carry out the upgrades in 2 phases. Firstly, APA will expand the Gruyere Power Station by installing a 12th…
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