EME completes acquisition
Edison Mission Energy, an Edison International company, has announced financial closing on the acquisition of the remaining 49 percent interest in the Loy Yang B power station held by the State Electricity Commission of Victoria (SECV). The transaction makes Edison Mission Energy the sole owner of the 1,000 MW station near Melbourne, Australia. The company acquired 51 percent of Loy Yang B from the SECV in December 1992.
Loy Yang B, consisting of two 500 MW units fired by brown coal, generates approximately 18 percent of Victoria`s electricity. The units commenced commercial operation in October 1993 and October 1996.