theland.farmonline.com.au
26 Mar 2012
AGL Energy has foreshadowed a go-ahead next year for the first stage of a huge wind power project in NSW, in a clear sign it expects an improvement in the climate for renewable energy investments. The energy generator and retailer bought the development rights for a potential 1000- MW wind farm north-west of Broken Hill that could cost $2.5 billion to develop in full, according to The Australian Financial Review.
AGL Energy acquired the Silverton venture from Germany's Epuron and Macquarie Capital Wind Fund for an undisclosed sum. The project already has planning approval for an initial 282 wind turbines involving 300 MWs of capacity. Construction of this stage, which Deutsche Bank says may cost $750 million, could start next year, AGL Energy said. AGL Energy estimates it will cost $500 million to $700 million.
Final approval is yet to be secured for subsequent phases, involving a further 316 turbines, which could be subject to stricter planning regulations in NSW for wind projects. In December, NSW Planning Minister Brad Hazzard proposed a ban on erecting wind turbines within two km of homes unless specifically agreed to in writing with landholders, or unless allowed under a "gateway" process.
A 1000 MW project would be more than double the size of AGL Energy's Macarthur wind farm under construction in Victoria, set to be the largest in Australia, said Deutsche Bank analyst John Hirjee.
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