Friday 18 January 2008

Pacific Hydro to free up funds

Australian Financial Review
16/01/2008 Page: 42

Now that the Rudd government has ratified the Kyoto Protocol, committed to an emissions trading system and set a target of 20 percent renewable energy by 2020, Pacific Hydro is to move ahead with plans for developing 1000 megawatts of wind energy at a cost of about $2.5 billion.

Industry Funds Management, which bought Pacific Hydro for $925 million in 2005, is reviewing its capital structure to enable this accelerated expansion. Potentially interested parties include: AGL Energy, Origin Energy and CLP Holdings - owner of TRUEnergy. Germany's Conergy, Spain's Acciona and New Zealand's Meridian Energy are also potential partners.

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