Powering Australia through wind

Mining Chronicle
October, 2006, Page: 34

IN THE last 20 years, wind energy has gone from an emerging source of fuel to a significant energy resource in many countries. Generation costs have fallen by 50 per cent during the last 15 years, moving progressively towards the cost of conventional energy sources.

As at April 2006 there were some 82,000 wind turbines in more than 60 countries, providing a total of 59,264MW of installed capacity. Wind energy now generates 0.7 per cent of the world's electricity supply and is expected to represent 2.9 per cent of global electricity production by 2015.

Europe dominates the wind energy industry globally, accounting for 69 per cent of total installed capacity (41,044MW). The Americas is the second largest market, accounting for 17 per cent (10,062MW) of global production. In comparison, Australia only represents one per cent (717MW) of installed capacity of the global market. This is soon about to change.

International companies such as Babcock & Brown Wind Partners (BBW) is recognising Australia's potential in the alternative electricity market.

BBW was established in June 2003 and has successfully grown from a single-asset private investment company to a listed fund with a portfolio of wind energy assets, including wind farms in Europe, North America and the Asia Pacific. In addition, BBW has framework agreements in place with a pipeline of future opportunities in the US, Spain and Germany.

At present, Stage 2 of the company's Lake Bonney Wind Farm is under construction in South Australia.