Thursday 25 June 2009

AGL in further push into SA

Adelaide Advertiser
Friday 19/6/2009 Page: 80

AGL Energy is continuing to invest in SA's renewable energy capacity with the purchase of a new windfarm project at Barn Hill, 140km north of Adelaide. The acquisition allows AGL to install up to 62 turbines with an estimated capacity of between 124MW and 186MW, and adds to its five projects in the pipeline at Hallett and Burra.

AGL bought the project from Transfield Services - and a smaller windfarm in Queensland - for $9 million. The Barn Hill project, which has development consent, is estimated to have long-term average wind speeds consistent with other projects in the region. The transaction was consistent with AGL's leadership position in renewable energy, and its strategy of developing a pipeline of renewable projects to meet its long-term obligations under the expanded Renewable Energy Target scheme, AGL boss Michael Fraser said.

"AGL's portfolio of current renewable generation and potential development opportunities positions us well under the expanded RET scheme," he said. The scheme, proposed to start in January but not yet approved, has a target of 45,000 GW hours of renewable energy being generated by 2020.

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