Ecogen Energy is a power station operator in Victoria

Victoria (Australia)

Victoria is the second most populous state in Australia. Geographically the smallest mainland state, Victoria is bordered by New South Wales, South Australia, and Tasmania on Boundary Islet to the north, west and south respectively....

, Australia

Australia

Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...

. It operates two peaking power plant

Peaking power plant

Peaking power plants, also known as peaker plants, and occasionally just "peakers," are power plants that generally run only when there is a high demand, known as peak demand, for electricity.-Peak hours:...

s: the natural gas fired Newport Power Station and the gas turbine Jeeralang Power Station.

The company was privatised by the State Government of Victoria in March 1999, being sold to AES Corporation

AES Corporation

AES Corporation is a Fortune 500 company that generates and distributes electrical power. The company was founded on January 28, 1981, as Applied Energy Services by Roger Sant from the US Federal Energy Administration and Dennis Bakke from the Office of Management and Budget. AES Corporation is...

 subsidiary AES Transpower for $350 million, the state retaining $11 million of cash from the business resulting in total proceeds of $361 million. Before this time Ecogen Energy was a trading name of the gas powered power stations operated by Generation Victoria. AES Transpower sold Ecogen Energy in December 2002 to Babcock & Brown and their investment offshoot Prime Infrastructure for $81 million; a 73 per cent stake was sold to Babcock & Brown Power in 2006 for $59 million. Babcock & Brown Power sold their stake to co-shareholder Industry Funds Management in 2008 for $87 million.