Antinuclear

Victorian and New South Wales wind farms kick-started by Clean Energy Finance Corporation.

Clean Energy Finance Corporation funding two Australian wind farms – K. Jalbuena Eco Sees,  17 July 13, Two major wind farm projects in Australia will be the beneficiaries of the Australian government’s Clean Energy Finance Corporation. The C.E.F.C., a legislated fund dedicated to investing in clean energy, will invest 50 million Australian dollars ($45.94 million) to refinance Macarthur Wind Farm and will provide 37.5 million Australian dollars in senior debt finance to help build the Taralga Wind Farm.

Largest wind farm in the southern hemisphere

The 420 MW Macarthur Wind Farm in south western Victoria is said to be largest wind farm in the southern hemisphere. It is a joint undertaking between Meridian Energy Limited and AGL Energy Limited through AGL subsidiary Macarthur Wind Farm Pty Limited.

Fully operational since January 2013, the Macarthur Wind Farm can generate enough energy to power 220,000 Victorian households and reduce carbon emissions by 1.7 million tonnes a year…….

Australian engineered and sourced

C.E.F.C. will also be providing 37.5 million Australian dollars in senior debt finance for the construction and operation of the Taralga Wind Farm, 45 kilometers of Goulburn in New South Wales……

Scheduled for completion in 2014, the Taralga wind farm will generate around 300 gigawatt hours of renewable energy a year or enough to power 45,000 homes annually and prevent the emissions of 250,000 tonnes of carbon dioxide equivalent.

C.E.F.C. is helping to facilitate the project’s use of Australian engineered and sourced wind towers from Keppel Prince Engineering, based in Portland, Victoria.

“The integrated Australian supply of inputs enabling this project- from materials, through to technology, know-how and finance- demonstrates Australia’s capability across the whole value chain for the clean energy sector,” said Mr. Yates.

Aside from encouraging the development of the Australian domestic wind sector, projects such as this will create jobs both nationwide and regionally. A competitive clean energy economy

The Australian Government established the C.E.F.C. to mobilize capital investment in renewable energy, low-emissions technology and energy efficiency in the country. It works with the business and financial sectors to assist in Australia’s efforts to move to a more competitive clean energy economy.

“We are in active discussions with over 50 project proponents, which would involve C.E.F.C. finance of circa $2 billion and total project cost of over $4.5 billion. These potential investment span a full range of industry and economic sectors, technologies (renewable energy, energy efficiency and low emission technologies), as well as input to those streams, and these are well distributed across all states and territories,” said Mr. Yates.

In addition to the wind projects, the C.E.F.C. and Commonwealth Bank have already announced a 100 million Australian dollar program to co-finance Energy Efficient Loans to medium sized businesses investing in energy efficiency or small scale renewable technologies to reduce their energy costs.  http://www.ecoseed.org/business/other-markets/16769-clean-energy-finance-corporation-funding-two-australian-wind-farms

July 18, 2013 - Posted by Christina Macpherson | New South Wales, Victoria, wind