Transfield Services Infrastructure Fund (TSI)

Shares / Stock Code

TSI

Stock Exchange / Sharemarket

ax

Transfield Services Infrastructure Fund (TSI) initial portfolio consists of equity stakes in five power stations and two water filtration plants that were either developed or acquired by Transfield Services. TSI has also added wind farms to its portfolio and will look at expanding this portfolio if its balance sheet can handle it. TSI is managed by its major shareholder, Transfield Services Limited.

TSI's initial portfolio consists of equity stakes in five power stations and two water filtration plants that were either developed or acquired by Transfield Services. It subsequently acquired a number of wind farm assets. The company was listed on Australian stock market (ASX) on 2 June, 2007.

TSI presents a well-balanced infrastructure portfolio, diversified by asset type, geography, operational mix and fuel source. TSI has the right of first refusal to invest in Transfield Services' wind farm development portfolio. TSI's major competitors are other utility companies. Major customers include the Queensland government (Enertrade), Caltex, Verve Energy and BP.

During the fiscal year ended June 30, 2009, the principal activities of Transfield Services Infrastructure Limited and its subsidiaries consisted of infrastructure ownership in the power generation and water filtration sectors. TSI Fund owns a portfolio of interests in infrastructure assets, including five power stations, two water filtration plants and four wind farms.

It operates in three business segments. The Power Stations segment owns or part owns infrastructure investments, which comprise interests in Townsville, Kemerton, Collinsville, Kwinana and Loy Yang A Power Stations. The Wind Farms segment owns infrastructure investments, which comprise interests in the Windy Hill, Toora, Starfish Hill and Mt Millar wind farms. The Water Filtration Plants segment part owns the Macarthur and Yan Yean water filtration plants.

Townsville Power Station

Townsville Power Station is operated as a base loading plant providing input to the Queensland electricity system. Transfield Services has recently completed a $115 million redevelopment of the power station. The expansion increases the size of the power station to 240 MW capacity.

With its clean coal seam methane fuel and combined cycle configuration, Townsville Power Station prevents more than a million tonnes of carbon dioxide from emission into the atmosphere every year as the power it generates displaces generation by less efficient coal fired power stations elsewhere. It is independently estimated that Townsville has a remaining economic life of 24 years based on the original equipment design life of the gas turbine of 30 years which was installed in 1999.