Expanding our capabilities and identifying new financeable opportunities to grow
Exit non core businesses
Our focus on our energy delivery markets in the UK and the US means that we have sought to dispose of operations deemed to be non-core.
Our principal objective on exiting a business is to maximise the proceeds we can generate from each sale.
Disposals
During 2008/09, we completed the disposal of the Ravenswood generation station for cash proceeds of $2.9 billion (£1.6 billion). Its disposal was a condition of regulatory approval for the KeySpan acquisition.
There were no other significant disposals during the year ended 31 March 2009.
During 2007/08, we completed the disposal of several non-core businesses including our UK and US wireless infrastructure operations and our Basslink electricity interconnector in Australia.