Cleanaway Energy, a subsidiary of Brambles Group, currently owns and operates four landfill gas-to-energy projects in Taiwan that collectively produce 12MW.
Queensland-based Energy Developments said the sale to UK-based Veolia Group formed part of its continuing focus on Australia, the United States and Europe.
The company said its Australian partner, the Brambles Group, has also agreed to sell its 51% stake in Cleanaway Energy to Veolia and other parties.
As a result of the sale, Energy Developments said it expects to post a net loss on sale of about $1.4 million in its first half results to December 31, 2006.
The company currently owns and operates about 445MW of power stations in Australia, the US, Europe and Asia that run on alternative fuel sources, such as landfill gas, coal mine methane and natural gas.
It said its new 2MW German Creek Coal Mine Methane Project in Queensland and West Kimberley Power Project in Western Australia, with an initial capacity of 61MW, are expected to be completed during the 2007 financial year. These projects are expected to boost operating capacity 20% to about 540MW.
