alinta

Debt-laden electricity generator Alinta Energy Ltd says it has received bids from parties interested in buying all or part of the business and has flagged a $465 million non-cash impairment charge for the second half.

Alinta had $3.5 billion in current liabilities at the end of December last year, when it announced its plan to "deleverage" itself by restructure its finance facilities and selling assets.

It has since sold its Alinta Energy Markets Pty Ltd business unit to Infigen Energy and its Cawse power station in Western Australia to Russia's Norilsk Nickel.

"Alinta's deleveraging process is continuing with bids from parties interested in acquiring all or part of Alinta or recapitalisation in one form or another expected on 31 August 2010," Alinta said in a statement on Monday.

Alinta said the $465 million impairment charge would appear as individually significant items in its accounts for the 2009/10 financial year.

About $350 million relates to the Alinta retail business in Western Australia, it said.

"The impairment charge has been determined by comparing written down value against the `value in use' for each cash generating unit (CGU)," Alinta said.

"Revised (higher) gas costs in Western Australia and lower than previously forecast electricity prices in Queensland and the South West Interconnected System (the main electricity grid in WA) have prompted a re-assessment of Alinta's carrying values for its CGUs."