History has a wonderful habit of repeating itself - just ask Alinta owner Babcock & Brown Power as it tries to crawl out from a $3 billion debt mountain as a crippling increase in its cost base looms.
State Energy Minister Peter Collier has ruled out purchasing the Western Australian assets of troubled utility investor Babcock and Brown Power, namely those in the Alinta group that the ailing investment banking group bought two years ago.
THE global financial crisis has had a big impact on two energy projects off Western Australia's northern coast, with Coogee Resources and Nexus Energy both putting out 'for sale' signs this month.
While the world is full of brave people who try to predict the future, the fluctuating fortunes of Western Australian energy companies Alinta and The Griffin Group show how dangerous this practice can be.
18 Jun 2008
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