Power stations sold to Japan

Griffin Energy Group’s two coalfired power stations in Collie have been sold to Japanese companies several months after Indian power giant Lanco Infratech finalised its $750 million takeover of Griffin’s coal mines.

Administrator KordaMentha agreed to terms with The Kansai Electric Power Company Inc and Sumitomo Corporation to buy Bluewaters 1 and Bluewaters 2, ending a year-long sales process with bidders from Australia, Asia and North America.

Administrator Scott Kershaw said completion of the sale remained subject to a number of conditions and the terms of the sale were confidential.

‘‘The purchasers are high-quality counter parties who have substantial investments in power generation on a global basis,’’ he said.