TRUenergy is an energy company headquartered in
Melbourne, Victoria, Australia. Founded in 2005 as a retailer and generator of electricity, and a retailer of natural gas, the company is formed from the combination of retail and generation assets purchased by Hong Kong-based CLP from Singapore Power (who in turn purchased them from TXUCorp, of TexasUSA), and CLP's own Yallourn Power Station, in Victoria's Latrobe Valley.
TRUenergy supplies natural gas and electricity to more than 1.25 million residential and business customers throughout Australia. In addition to the retail function, TRUenergy has a significant portfolio of industrial and commercial customers, and a $5 billion portfolio of energy assets, including an underground natural gas storage facility at Iona near Port Campbell (Victoria), a master hedge agreement with Ecogen for 966 megawatts of gas-fired electricity and power stations at
Yallourn, Victoriaand Hallett Power Station, in South Australia.
TRUenergy is the only Australian energy business that has publicly committed to medium to long term greenhouse reduction targets. The company's Climate Change strategy commits TRUenergy to reducing its greenhouse gas emissions across its portfolio by 60% by 2050. It has also spent close to $1 billion expanding its clean energy portfolio, including a $292 million commitment to Melbourne-based Solar Systems, a world leading manufacturer of concentrated photovoltaic technology. This deal will now enable Solar Systems to construct the world's most efficient concentrated solar power station in northwest Victoria.
Other clean energy developments include - a new $350 million combined cycle natural gas power station near Wollongong in
New South Wales. When complete, TRUenergy Tallawarra will be Australia's most efficient gas-fired power station and will provide gas and electricity to over 200,000 homes.- a $57 million structured deal with Petratherm to pilot geothermal technologies- participation in a study looking at the prospect of reducing greenhouse emissions from brown coal.
TRUenergy employs over 1000 people in Victoria and NSW.
* [http://www.truenergy.com.au TRUenergy]
* [http://www.clpholdings.com CLP]
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