[ exact phrase in "" • ~10 sec • results by date ]

[ Google-powered • results by relevance ]

LOCATION/TYPE

News Home
Archive
RSS

Subscribe to RSS feed

Add NWW headlines to your site (click here)

Sign up for daily updates

Keep Wind Watch online and independent!

Donate $10

Donate $5

Selected Documents

All Documents

Research Links

Alerts

Press Releases

FAQs

Publications & Products

Photos & Graphics

Videos

Allied Groups

Hydro seals $1.6b wind farm deal  

Credit:  ABC News | 10 April 2013 | www.abc.net.au ~~

Hydro Tasmania wants to treble its wind farm operations under a deal with Chinese energy company Shenhua Group.

Hydro has signed an agreement to look at projects over the next seven years which might be worth up to $1.6 billion.

The agreement signed in Beijing yesterday is not binding and is not tied to any particular projects.

Under the agreement, the parties will develop and build 700 megawatts of wind farms across Australia in the next seven years.

Hydro chief executive Roy Adair would not speculate on specific details, but said the state-owned company wants to build on its current wind farm projects.

“If you look at Woolnorth and Musselroe, the two of those add up to 308 megawatts so we’d be looking at adding 700 to that,” he said.

“We’d be looking at trebling the size of what we currently have.”

Hydro is confident the plan will not be jeopardised if the Coalition wins this year’s federal election.

Mr Adair says the profitability of wind projects is dependent on the Federal Government’s renewable energy target continuing.

He believes the Opposition is committed to the plan to increase renewable energy to 20 per cent of total power production.

“This legislation is what I would call investment class. Shenhua has already invested more than $170 million in Hydro’s northern Tasmanian wind farms,” he said.

A subsidiary of Shenhua already owns 75 per cent stake in the Musselroe wind farm in Tasmania’s north.

Source:  ABC News | 10 April 2013 | www.abc.net.au

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

Wind Watch relies entirely
on User Funding
Donate $5 PayPal Donate

Share:


News Watch Home

Get the Facts Follow Wind Watch on Twitter

Wind Watch on Facebook

Share

CONTACT DONATE PRIVACY ABOUT SEARCH
© National Wind Watch, Inc.
Use of copyrighted material adheres to Fair Use.
"Wind Watch" is a registered trademark.
Share

Wind Watch on Facebook

Follow Wind Watch on Twitter