The Advocate, Page: 4
Tuesday, 4 April 2006
HYDRO Tasmania's renewable energy joint venture has signed a $300 million deal for wind farm development in China. The deal between Roaring 40s and big Chinese energy company Guohua Energy was signed in Canberra yesterday, as part of Chinese Premier Wen Jiabao's visit. Hobart-based Roaring 40s said the deal established a framework for the joint development of wind farms in China, with an initial target of 150mW of production. Each partner will contribute about $50 million and they will borrow $200 million for an anticipated three 50mW projects.
The first of those is expected to be built in the east coast Shandong province and to start operation next year. Roaring 40s is a joint venture between the Hydro and Hong Kong-based energy company CLP Group, with wind farms in Australia and has entered the Chinese, Indian and New Zealand markets. It entered an agreement with another Chinese company last year to develop a 49mW wind farm in Jilin Province that is expected to be commissioned in October. Mr Kelleher said the new deal was unlikely to bring big opportunities for Vestas' Wynyard wind turbine nacelle plant, as most of the manufacturing would be done in China.
He said Roaring 40s employed about 35 people in Tasmania and was advertising soon for four or five positions.
0 comments:
Post a Comment