Origin Energy writes off solar, geothermal investments

Australia’s Origin Energy has written-off its entire investment in its PV cell joint-venture Transform Solar – citing global over-supply – and booked the last of many losses on its geothermal joint venture with Geodynamics.

Origin told investors in its full-year financial statement: “The company has determined that continued investment in certain activities is not warranted in the near term, particularly given the requirement to fund Origin’s share of its investment in Australia Pacific LNG.”

Australia Pacific is Origin’s A$20bn Queensland-based gas-export joint venture with Conoco and Sinopec.

Origin booked a A$153m pre-tax loss on its Transform Solar joint venture with Micron Technology, after saying in May it would discontinue operations at its Sliver PV module developer in Idaho, US.

“We have developed the technology…

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