$KEPPEL INFRA TRUST WEF 2015(A7RU.SI)$

APA buys Basslink debt, confirms purchase interest

Gas pipeline owner APA Group has confirmed its appetite to buy the bankrupt power interconnector Basslink, announcing it has acquired an interest in the venture's debt.

“The potential acquisition of Basslink is consistent with our strategy to expand our electricity transmission footprint and invest in renewable energy sources,” APA chief executive Rob Wheals said in a statement reveal the purchase of $99 million of the venture's debt.

Basslink, an underwater power cable linking Tasmania with Victoria, fell into receivership 10 days ago, with owner Keppel Infrastructure blaming in part the collapse of discussions with APA for the proposed sale, as well as ongoing commercial disputes with the venture’s monopoly customer, Hydro Tasmania.

However APA, which was outbid by Brookfield for AusNet Services, was understood to have remained interested in the purchase of the 370 kilometre, high voltage, direct current cable despite withdrawing from the talks with Keppel, which has owned Basslink since 2007 when it was known as CitySpring Infrastructure Management.

For the complete article,

https://www.afr.com/companies/energy/apa-buys-basslink-debt-confirms-purchase-interest-20211122-p59avi