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AGL Energy Limited (ASX:AGL)

ALERT: Price-sensitive ASX Announcement for AGL
Current share price for AGL : $8.970 -0.17 (-1.86%)+
Announcement
Release
31 Oct 2025 8:26AM
Price at Release
$9.140
Full Release
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Summary
AGL Energy Limited announced the purchase of four new gas turbines from Siemens AB for approximately $185 million as part of the Kwinana Swift Gas 2 project. This development, assigned 176MW of Peak Certified Reserve Capacity by the AEMO, is scheduled to start on 1 October 2027. It aims to provide new firming capacity, such as batteries and gas peakers, to support the transition to renewable energy and assist the Western Australian Government in retiring coal-fired generation by 2030.
Key Points
  • AGL Energy Limited has entered an agreement to purchase four new gas turbines from Siemens AB.
  • The project cost is approximately $185 million.
  • The development is part of the Kwinana Swift Gas 2 project.
  • The Australian Energy Market Operator (AEMO) has assigned 176MW of Peak Certified Reserve Capacity to the project.
  • The project is set to commence on 1 October 2027.
  • The project aims to support energy transition with new firming capacity including batteries, gas peakers, and pumped hydro.
  • AGL's strategy focuses on providing back-up capacity for renewable energy development.
  • This project supports the Western Australian Government's commitment to retire state-owned coal-fired generation by 2030.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.