ACCC Approves Origin Takeover, Says It Will Speed up Renewable Rollout

The ACCC considers that the acquisition will likely result in an accelerated roll-out of renewable energy generation.

An Origin Energy power bill is pictured in Brisbane, Australia on June 8, 2018. AAP Image/Dan Peled

The Australian Competition and Consumer Commission (ACCC) has approved Brookfield and MidOcean’s proposed acquisition of Origin Energy, a move that is expected to help reduce emissions in the country.

The proposed acquisition is composed of two interdependent transactions, which will result in a consortium led by the Brookfield Global Transition Fund owning Origin’s energy markets business, including its electricity generation and retail businesses.