Australian news, and some related international items

Investment coming into renewable energy in Australia

TRUenergy ready to invest in renewables again, REneweconomy, By Giles Parkinson on 16 March 2012 TRUenergy, one of the big three retailers responsible for building or commissioning renewable energy projects to meet the 20 per cent renewable energy target by 2020, says that it is ready to invest in projects, and expects to make its first decisions before the end of the year.

The news will come as relief to the renewables industry in Australia, which has been all but stalled for the last three years because of the surplus of renewable energy certificates, which the big three energy utilities have been buying en masse to meet their obligations.

The big three utilities say they have enough certificates to last until at least 2015, but to meet the annual targets built into the RET scheme, they will need to start building or commissioning projects soon to ensure that there are sufficient certificates to meet demand. Ross Edwards, the head of business development at TRUenergy, and responsible for thermal and renewable generation investment, says the company expects to re-enter the market for large scale renewables by the end of the year. It is considering building its own 120MW wind farm at Stoney Gap in South Australia’s Clare Valley, but is also negotiating power purchase agreements with third party developers.

Edwards says it is a good time to be negotiating deals – both for wind
turbines and power purchase agreements. “With the exchange rates where
they are at and the global supply and demand, (it) pretty well puts us
in a reasonable position re pricing,” he told RenewEconomy in an
interview this week…..

March 16, 2012 - Posted by | AUSTRALIA - NATIONAL, business

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