AGL Energy (AGL), an integrated energy company, has entered into a binding agreement to acquire 100% of the shares and units in Firm Power and Terrain Solar (The Group) for a total consideration of approximately $250 million.
Firm Power is a developer specializing in Battery Energy Storage Systems (BESS), with 21 projects currently in development, while Terrain Solar is a solar project developer with six projects in development.
The Group's development pipeline totals 8.1 GW, comprising 6.1 GW of grid-scale BESS projects across New South Wales (2.3 GW), Queensland (2.7 GW), Victoria (0.3 GW), Western Australia (0.5 GW), and South Australia (0.3 GW).
Additionally, the pipeline includes 1.8 GW of solar projects in New South Wales (0.5 GW), Queensland (1.1 GW), Western Australia (0.1 GW), and South Australia (
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