Thursday, 28 February 2013

Hydro sells wind farm stake
5 Feb 2013

CHINESE renewable energy business Shenhua Clean Energy has continued its links with Tasmania by formalising its partnership in the Musselroe wind farm. Shenhua Clean Energy has paid $89 million for a 75% stake in the North East project, which includes the transfer of $270 million in debt from Hydro Tasmania. The signed agreement follows current joint ownership agreements between the Chinese company and Hydro Tasmania for the Woolnorth wind farms in the state's north-west.

Hydro Tasmania chairman David Crean said Shenhua Clean Energy had become a first class strategic partner for Hydro Tasmania and the state. "Guohua, the main SCE parent company, is one of the world's largest wind [farm] developers and brings a wealth of expertise in the renewable energy sector", Dr Crean said. "Guohua has more than 4200MW of wind power capability operating in China". Dr Crean said the $394 million 160 MW Musselroe wind farm is on track for completion by June 30.