Contact Energy's sale of its stake in the Valley Power Peaker Station in Victoria, Australia, is complete.
Contact had a 40 per cent stake in the station with the balance held by International Power Australia and Mitsui & Co.
New South Wales-based generator and retailer Snowy Hydro paid A$243 million ($265 million) for the plant.
David Hunt said the sale was consistent with the company's decision to focus on the New Zealand market.
Contact chief says sale consistent
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