Acquirer(s)
- Hydro Tasmania
Target(s)
- Roaring 40s
Summary
Hydro Tasmania and China Light and Power proposed to split the wind farm assets of their joint venture, Roaring 40s. Hydro Tasmania proposed to acquire the Tasmanian wind farm assets from the JV.Market definition
While the ACCC did not consider it necessary to form a concluded view in relation to market definition, it considered the likely impact of the proposed acquisition in:- a Tasmanian market for the wholesale supply of electricity
- a national market for the supply of Renewable Energy Certificates (RECs)
Competition analysis
The ACCC concluded that the proposed acquisition was not likely to result in a substantial lessening of competition in any relevant market. Key factors informing the ACCC's conclusion were:- the proposed acquisition was unlikely to substantially change the competitive dynamics of the Tasmanian market for the wholesale supply of electricity
- there will remain a number of competitors to Hydro Tasmania for the supply of Renewable Energy Certificates in the national market post acquisition.
Timeline
| Date | Event |
|---|---|
ACCC commenced review under the Merger Review Process Guidelines. |
|
Closing date for submissions from interested parties. |
|
Former proposed date for announcement of ACCC's findings of 23 June 2011 amended to allow for further information to be provided by Hydro Tasmania. |
|
ACCC announced it would not oppose the proposed acquisition. |