Tuesday, 27 September 2011

CBD buys wind farm

22 Sep 2011, Page: 21

CBD Energy, an Australian developer of renewables, and its partners have acquired a planned 100 MW wind power project in NSW from Britain's RES Southern Cross Group. The Taralga wind farm in the Southern Highlands has government approval for 61 turbines, Sydney-listed CBD Energy said yesterday. Financial details of the agreement were not disclosed.

CBD Energy is a partner with China Datang Renewable Power and Baoding Tianwei Baobian Electric in the AusChina Energy Group, which bought the right to build the wind farm, including the land needed for the project. The joint venture plans to develop $6 billion worth of renewable energy projects over the next eight years. Construction of the Taralga wind farm may start this year, with completion due in 2013, CBD Energy said. CBD Energy shares rose 9% to 9.5¢ on the Australian Securities Exchange yesterday.