Tuesday, 4 October 2011

Wind farm deadline looms in Victoria

Summaries - Australian Financial Review
3 Oct 2011, Page: 3

Wind farm developers have been told by the Victorian government that they must begin construction on projects in the state before March 2012 to avoid having to reapply under new regulations. The low Renewable Energy Certificate price currently makes it uneconomical for the generators to begin development, being at what Kane Thornton from the Clean Energy Council calls 'lower than what it needs to be to commercialise projects.'

Analysis from the Greens shows that ACCIONA Energy Australia, Mitsui & Co and Union Fenosa Wind Australia will be affected. Victorian Greens leader Greg Barber said the government, despite using the number of approved wind farm projects to counter claims the state is too heavily reliant on coal, 'will have all but wiped out the industry' within the next few years. State opposition planning spokesman Brian Tee described the policy as 'a lack of common sense.'