| SYDNEY, June 6
SYDNEY, June 6 The New South Wales state
government has set a deadline of late July for first-round bids
for two power stations ahead of a sale worth about A$1 billion
($930.80 million), two sources working on the deal told Reuters
Australian federal and state governments have identified
some A$100 billion of state-owned assets for potential sale as
they seek new ways to pay down debt and fund upgrades to
critical infrastructure like roads.
The deadline suggests the government of Australia's most
populous state hopes there is enough interest in the Vales Point
and Colongra power stations owned by its Delta Electricity unit,
which together generate about 12 percent of the state's power,
to justify a sale.
In March, New South Wales was forced to pull the A$1.5
billion sale of larger power company Macquarie Generation to AGL
Energy Ltd, after regulatory authorities said the deal
would hurt competition and no other bidder offered the asset's
Goldman Sachs, which is running the sale, has now
amassed enough interest in Delta to invite parties to submit
indicative bids by late July, the sources, who were not
authorised to comment publicly on the deal, said on Friday.
A sale is expected to be completed by the end of 2014, they
Another New South Wales state-owned energy asset, renewable
energy supplier Green State Power, is expected to receive final
bids from a handful of parties with a sale likely by the end of
June for under A$100 million, the sources said.
The Federal government says it will pay state governments an
extra 15 percent on proceeds from infrastructure sales.
($1=1.0743 Australian dollars)
(Editing by Clarence Fernandez)