Courier Mail
30/11/2007 Page: 2
THE State Government has sold off its wind farm assets with almost half a billion dollars to be poured back into climate change initiatives. Premier Anna Bligh yesterday said Transfield Services Infrastructure would buy the assets from Stanwell Corporation and Tarong Energy for $460.4 million. The boost to the Queensland Climate Change Fund funding for projects encouraging more sustainable living comes after the Enertrade gas businesses were sold for $268 million this month.
The package includes Stairwell's Windy Hill Wind Farm in Queensland and Toora wind farm in Victoria, and Tarong's Mt Millar and Starfish Hill Wind Farms in South Australia. It also includes a 50 per cent Stanwell interest in the Emu Downs wind farm in Western Australia and other wind farm projects around the country. Ms Bligh yesterday said the sale price was $130 million more than the Government had originally expected.
The net sale price was about $430 million after accounting costs but would produce another $30 million a year in interest payments, she said. "This is an excellent financial outcome for Queensland taxpayers and paves the way for further investment in one of the most significant global challenges we face," Ms Bligh said. Climate Change and Sustainability Minister Andrew McNamara said the fund would promote energy efficiency and the uptake of renewable and alternate energy sources.
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