Envirogen has four WCMG power stations located at the Tahmoor Colliery, Teralba Colliery and Glennies Creek coal mines in New South Wales and the Oaky Creek coal mine in Queensland.
The power stations provide methane abatement and clean energy for global miners Glencore Xstrata and Vale.
The sale is subject to a number of conditions precedent, which are expected to be cleared in the next month.
Energy Developments will fund the purchase using a combination of equity proceeds raised in February and its other available sources of funding.
“WCMG power generation and methane abatement solutions are a core part of the company’s clean energy business, with strong sector fundamentals,” Energy Developments managing director Greg Pritchard said.
“ENE already has more than 200MW of WCMG power generation in our portfolio through partnerships with leading coal producers Anglo American and BHP Illawarra Coal.
“Acquiring Envirogen is an excellent strategic fit for the company, providing us relationships with two more global miners and delivering synergies with our existing WCMG business.
“We see further potential for growth in this sector because we offer customers unparalleled solutions for methane abatement, clean embedded power solutions and network support services.”
