EDISON MISSION ENERGY TO SELL ASSETS TO JAPAN'S MITSUI.

MELBOURNE, Aug 2 Asia Pulse - Us energy giant Edison Mission Energy is to sell its global assets to International Power Plc and Japan's Mitsui & Co Ltd of Japan.

The moves means another US energy heavyweight is withdrawing from the Australian energy market.

International Power and Mitsui have formed a 70-30 partnership to acquire Edison Mission's assets - including a number of Australian upstream energy operations - for an undisclosed price.

The agreement follows the sale in April this year of US electricity supplier TXU Corp's Australian assets to Singapore government-controlled utility Singapore Power (SP) for $A5.1 billion ($US3.58 billion).

Also this year, the Perth-based Alinta Ltd agreed to buy Duke Energy's portfolio of assets for $1.69 billion.

International Power (Australia) managing director Tony Concannon today said the Edison Mission deal would enable the International Power to acquire diverse, global power businesses to complement its group's existing international generation portfolio.

Edison's Australian assets include 70 per cent of the 1OOO megawatt (MW) coal-fired generator, Loy Yang B in Victoria and 42 per cent of the adjacent 30OMW natural gas fuelled Valley Power peaking station.