ABB in consortium to run South Australias power transmission network
Zurich, Switzerland, September 20, 2000 Global technology group ABB said today it is part of a consortium selected by the State of South Australia to operate and maintain a high-voltage power transmission network in the State under a long-term lease agreement.
The consortium members are ABB, Queensland Electricity
and Transmission Company (operating as Powerlink),
and Macquarie Bank Limited. The consortium will operate
and maintain the power transmission network
including some 5,500 kilometers of transmission lines
- under the existing ElectraNet name. ABB said it
is a 19.5 percent owner of ElectraNet SA, corresponding
to an equity investment of US$ 10 million. The transmission
system is the last electricity asset to be privatized
in South Australia.