Wednesday, 26 June 2013

Funding to fast-track wind farm
7 May 2013

A WIND farm in the Central Highlands will be fast-tracked after a new global energy private firm invested $US75 million ($A73.2m) to finalise it and a number of other wind projects around Australia. The $500 million Cattle Hill wind farm, which will be the biggest on mainland Tasmania, received Environment Protection Authority approval in 2011. The 100 turbine development is expected to produce up to 240 MWs of electricity--enough to power more than 80,000 homes.

By comparison, the wind farm at Woolnorth in Circular Head Council has 62 turbines generating 140MW. National Power started work on the Cattle Hill project, near Lake Echo, in 2010. Denham Capital has joined forces with existing project sponsors, Enersis Australia, National Power and Kato Capital, under the name OneWind Australia.

The firm says the investment will accelerate the development of the projects and it aims to achieve financial closure in 2014. OneWind Australia will also fund projects at Glen Innes in NSW and Lincoln Gap in South Australia.