$6bn green energy goal

Adelaide Advertiser
Thursday 20/8/2009 Page: 7

Eyre Peninsula renewable energy projects will be the key to the State Government's attempt to capture an estimated $6 billion in green energy funds. A major feasibility study aimed at creating greater capacity in the state's electricity grid has been launched by the Government. That will contribute $1 million to the consortium examining the plan, which will target the Eyre Peninsula. The consortium includes Macquarie Bank, WorleyParsons and Baker and McKenzie.

Premier Mike Rann said the study would look at how and what the state needed to do to improve and significantly augment SA's capacity to transmit electricity across the power grid. "SA has now set a new target of 33% of the state's power generating coming from renewable energy by 2020," he said. "This is bold, even in international terms." Prime Minister Kevin Rudd has said he wants Australia to generate 20% of power from renewable resources by 2020.

Mr Rann said SA would smash that target years ahead of the deadline. He said the state needed to attract a greater investment in green power so that there could be a statewide "green grid" of renewable energy - from wind, solar, geothermal and wave - feeding into the national power grid out of SA. "We want to be a major source of green power for the eastern states so they can reach their targets," he said. "However, if we are to get serious about attracting more green energy, we are going to have to increase our transmission capacity."

Mr Rann said that by increasing the capacity of the transmission lines on the Eyre Peninsula, it had the potential to unlock $6 billion in renewable energy investment that could generate up to 5000 MWs of clean, green energy. "Last year, we commissioned the State Economic Development Board to prepare a wide-ranging economic statement," he said. "One of the board's key recommendations was to ensure we maximise and build on our state's unique natural advantages in generating wind, solar, geothermal and wave energy."