Antinuclear

Cogeneration sugar mill plants give renewable energy a new lease of life

Sugar mill renewable energy plants kick started by overseas sale. ABC Rural News, 12 Nov 13  Swiss-based company Capital Dynamic has taken over two of the country’s major renewable energy assets for an undisclosed sum.The cogeneration plants at the Broadwater and Condong Sugar Mills, in northern NSW, recommenced operations last Friday processing sugar cane trash from the current harvest.

They cost the NSW Sugar Milling Co-operative $220 million to build but have been shut down while receivers looked for a buyer.David Scaysbrook, managing director of Clean Energy Infrastructure at Capital says they have had their eye on the plants for a year.

“We have a history of taking over broken assets..we’ve done similar things in the UK in gas, coal and methane assets. We are operational experts and we think we can add something to the resuscitation of the business.”…….. Capital Dynamics refers to its purchase of the two cogeneration plants as a “compelling investment”.

The company’s David Scaysbrook, managing director the Clean Energy and Infrastructure team, says their investment breathes new life into the power plant operation and the future prospects for the local community in which they operate.

He says “especially to the local sugar cane growers who are so critical to the region’s economy.”

Capital Dynamics plans to “operate the assets over the very long term, to improve them and to deliver to their investors strong financial returns from multiple revenue sources”.

Mr Scaysbrook says it is a genuine, long-term partnership model.

The company’s chief executive officer, Stefan Ammann, says their team has decades of experience in successfully investing and operating thermal plants as well as other renewables such as wind and solar.

Capital Dynamics now owns and manages more than 230 mega watt of clean energy capacity in North America, Europe and Australia, with 68 MW of those now in northern NSW. http://www.abc.net.au/news/2013-11-11/cogen-plants-sold-to-foreign-investor/5083058

November 13, 2013 - Posted by Christina Macpherson | energy, New South Wales