Shell increases stake in Australia’s electricity market with Powershop takeover
by Peter Hannam from Environment | The Guardian on (#5S6K0)
Move will turn customers' stomachs' after retailer touted its clean energy credentials, critics say
Energy giant Royal Dutch Shell has expanded its presence in Australia's electricity market, buying retailer Powershop from NZ's Meridian Group as part of a $729m deal that may irk some customers who have tried to avoid fossil fuel companies.
Infrastructure Capital Group will take the non-retailing arm of Meridian's Australian operations, which includes the Mount Mercer and Mount Millar windfarms, and hydro power plants attached to the major dams of Hume, Burrinjuck and Keepit.
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