Business
How AGL lost nearly $2 billion from its early push into wind farms – RenewEconomy
How did AGL manage to lose nearly $2 billion on its early wind farm investments? And can it avoid a repeat as it manages the survival and exit of its coal and gas…
The share price of AGL – Australia’s biggest power generator and the country’s biggest emitter – took a tumble on Thursday after it revealed a massive $2.7 billion in write downs, including a $1.9 billion pre-tax loss from legacy investments in wind farms.
How did this happen?
AGL was one of the first big investors in wind farms in Australia, becoming the biggest investor in renewable energy before deciding to change tack nearly a decade ago and buying the Bayswater, Liddell and Loy Yang A coal…
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