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$1.2bn Bluewaters power deal moves closer

The administrators of Griffin Energy Group have welcomed key state government regulatory moves designed to clear the way for the sale of Bluewaters power station to Japanese companies Sumitomo Corporation and Kansai Electric Power.

Bluewaters was one of the key assets of Ric Stowe’s Griffin group, which went into administration in January 2010.

The sale of the power station, originally announced in April 2011, has been delayed by regulatory and contractual disputes involving Indian company Lanco, which bought Griffin’s neighbouring coal mines.

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1 year TSR5 year TSR
220thFortescue Metals Group30%15%
717 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
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