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Published: Tuesday 27 August, 2013

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After nearly two years of construction, AGL Energy ASX: AGL announced today the official opening of its $45 million cogeneration plant in Altona, Australia. While the facilitys 21 MW generation isnt big news, the plants purpose is: according to AGL, its the largest investment in industrial or manufacturing cogeneration in more than 10 years.



The plants 171 GWh of annual capacity are slotted for Qenos Pty Limited, the only polyethylene manufacturer in Oz. As of 2008, Qenos has operated as a joint subsidiary of China National Bluestar and The Blackstone Group. AGL is well placed to assist the mk handbag manufacturing industry, through its Energy Services business, to develop cogeneration plants, said AGL Managing Director and CEO Michael Fra mk handbag ser in a statement today. These provide the biggest potential for manufacturers to reduce greenhouse gases and improve energy efficiency.



According to the release, the new facility will cut carbon dioxide emissions by 100,000 a year, the equivalent of taking 25,000 cars off the road. In addition, steam generated from the plant will be used by Qenos in its ma mk handbag nufacturing process, ensuring optimum efficiency at a cheaper price for Quenos and environment. Qenos CEO Jonathan Clancy noted that, for his company, This is an investment in real sustainability.



Although financial details of the arrangement were not disclosed in the announcement, the two corporations have entered into a 15year deal with the ability to extend an additional 10 years.



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AGL apologizes for knocking on your door



The Motley Fools purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fools free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only under AFSL 400691. Motley Fool contributor Justin Loiseau has no position in any stocks mentioned in this article. mk handbag

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