Australia passes RET and gains new wind energy contracts

Australia passes RET and gains new wind energy contracts

Australia wind energy
Thanks to Australia’s Renewable Energy Target scheme being renewed, many new wind energy contracts have been signed all over the country.
GE Australia president Geoff Culbert said, ““With certainty comes investment – that’s our experience overseas and that’s what we’ll see here in Australia now that the RET is fully resolved.”
A large 240MW wind energy project, called Ararat, was announced a day after the RET bill was passed by the senate. The project is funded by RES Australia, GE and Downer, with financing also coming from shareholders Partners Group and Canadian pension fund OPTrust. This particular wind farm will be installed in Western Victoria. Ararat will cost $450 million to build, but will generate approximately $87/MWh.
Another large wind energy project called Bulgana has received the green light, despite some local opposition. The 63 wind turbine and 190MW wind farm will be located very close to Ararat in Victoria as well. Interestingly the Ararat project received no opposition, however, the wind farm will also be providing payments to 42 landowners in the area.
Chief operating officer at RES Australia, Matt Rebeck has praised the ACT government for its forethought in renewing the RET policies as a “positive model for other states to follow”. Hopefully the rest of Australia will continue its support for renewables, and especially wind energy.

Posted By Sally on June 23, 2015 | 0 Comment

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