Company Overview of TransGrid
TransGrid owns, operates, and manages high voltage electricity transmission network that connects generators, distributors, and end users in New South Wales and the Australian Capital Territory. The company offers electricity transmission service through high voltage transmission lines and underground cables, and substations for homes, factories, and businesses. It also provides network planning, consultations, network connections, transmission pricing, and network support and demand management solutions. In addition, the company owns and operates telecommunications network comprising microwave radio systems and an optical fibre network. Its network is made up of approximately 12,900 kilomet...
180 Thomas Street
PO Box A1000
Sydney South, NSW 1235
Founded in 1950
Key Executives for TransGrid
Managing Director, Executive Director, Member of Board Health & Safety Committee, Member of Board Regulatory Committee and Member of Board Remuneration & Structure Committee
General Manager of Finance
Executive General Manager of Network Services & Operations
Executive General Manager of People & Corporate Services
Compensation as of Fiscal Year 2015.
TransGrid Key Developments
Singapore Power- AusNet Services Joint Bid For TransGrid Reportedly Worth $6 Billion
Jul 27 15
Singapore Power Ltd and AusNet Services (ASX:AST) were in talks to launch a joint bid for TransGrid last week. The bid is estimated to be worth approximately $6 billion, according to sources. Deutsche Australia Limited and UBS AG, Australia Branch have been appointed as advisors to manage the sale process which is expected to be completed by Christmas.
TransGrid To Seek Funding From CEFC, Australian Renewable Energy Agency And Others
Jul 23 15
TransGrid is planning to seek funding from the Australian government's Clean Energy Finance Corporation (CEFC) for building a wind farm electricity hub near the Queensland state border, as per TransGrid Strategy Chief, Greg Garvin. TransGrid will discuss financing options with all funding sources including the CEFC and the Australian Renewable Energy Agency, said Greg Garvin. TransGrid is defying Prime Minister, Tony Abbott's order to CEFC to stop investing in wind and solar power.
AusNet Lead Bidder For TransGrid
Jul 14 15
AusNet Services (ASX:AST) is the lead bidder for TransGrid but is leaving its options open on whether it will bid alongside its major shareholders, Singapore Power Ltd and State Grid Corporation of China, or with other parties. Tony Iannello, AusNet’s Director leading the board subcommittee considering a bid, said that AusNet's experience and track record in running similar assets in Victoria placed it well to put forward a "competitive and compelling bid" for TransGrid, the first business to be sold off in the NSW government's $30 billion "poles and wires" privatization. Expressions of interest in TransGrid are due on July 14, 2015. Deutsche Bank and UBS are advising on the sale. TransGrid is worth about $9 billion. State Grid, which owns 19.9% of AusNet, is understood to have been in discussions with other potential bidders including Macquarie Infrastructure and Real Assets, Inc. Other consortiums include one of Spark Infrastructure Group (ASX:SKI), Hastings Funds Management Limited and Canadian and Middle Eastern parties. Australian Super is in a separate group with Borealis Capital Corporation and Canada Pension Plan Investment Board, while Cheung Kong Infrastructure Holdings Ltd. (SEHK:1038) is thought to be bidding alone. Other parties involved include China Southern Power Grid Co.,Ltd. with China Investment Corporation, and QIC Limited and IFM Investors Pty Ltd. "We believe foreign ownership will mean higher prices," said Steve Butler, NSW secretary of the Electrical Trades Union. Singapore Power and State Grid are being excluded from the work on the bid by AusNet and its adviser Citigroup until they decide whether they will participate in different groups. "We would dearly love them to support any bid that we put forward; what they decide to do is up to them," Tony Iannello said. He added: "We've had a lot of interest from a number of investors; given our strong operational capability it makes AusNet Services a prime target to lead any consortium. We're keeping our options open ... as we go through the bidding phase." Though he said AusNet could bid alone. "AusNet Services has got a very strong credit rating: We've got two major strategic investors and it has got access to a whole range of capital markets on the debt and equity side to be able to carry through on a bid," he said.
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