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6 April 2007 - AGL Energy Ltd (AGL) has received approval from the Australian Competition & Consumer Commission to acquire a 1280 MW gas fired power station from TRUenergy.

The transaction, which should be completed by early July 2007, concerns a power station located on Torrens Island near Adelaide, South Australia.

AGL's CEO Paul Anthony said: "The acquisition will provide valuable baseload capacity, as well as intermediate and peaking capacity." He added that the site also had the potential for a new combined-cycle gas fired power station.

According to Anthony, AGL's generation capacity now stands at 3300 MW either in current operation or under construction, and represents a threefold increase in less than twelve months.

He went on to say that more than 75 per cent of this capacity comes from clean burning gas, hydro or renewable sources, with planned development projects set to boost this to more than 85 per cent.

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