Antinuclear

Australia-China renewable energy company

the new company would be viable in the absence of a carbon price, but that a clear carbon signal would provide the long-term certainty to promote investment in clean energy.

Australia’s CBD Energy and Chinese companies soon to form AUD6bn renewable JV | Industrial Fuels and Power April 14th, 2011  Australia’s CBD Energy together with China Datang Renewable Power Co and Tianwei Baobian Electric Co are looking to form a joint venture called AusChina Energy Development. The new company will have the aim of developing and owning US$6bn in wind and solar power plants in Australia within eight years.

According to CBD Energy’s MD, Gerry McGowan, a final agreement is due to be signed on April 18. The JV is expected to benefit CBD’s solar manufacturing subsidiary eco-Kinetics, which is expected to begin the production of solar panels this year, eventually rising to 60MW per year.Mr McGowan said that “We’ll be accessing turbines made in China and debt from China, and we think we can significantly reduce the cost of renewable energy

… We’re hoping we can reach grid parity in a short space of time.” He explained that the new company would be viable in the absence of a carbon price, but that a clear carbon signal would provide the long-term certainty to promote investment in clean energy.
Australia’s CBD Energy and Chinese companies soon to form AUD6bn renewable JV | Industrial Fuels and Power

April 15, 2011 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, energy