Antinuclear

Australian govt policy uncertainty leads to scrapping of Burdekin hydro power project

Meridian Energy Australia announced on Friday it would not proceed with the Burdekin hydro power generation project, which was intended to “harness the otherwise wasted power of the largest dam in Australia at Burdekin falls”………… Burge said regulatory uncertainty over the RET was the reason for not proceeding with the Burdekin project.

The project would have improved energy security in north Queensland, meeting the growing needs of agricultural and mineral businesses, and provided about 150 jobs during development and construction, the company said.

“Sadly, the decision to undermine the long-term investment signals of the RET makes it more difficult to realise these benefits for Queensland businesses and households,” Burge said.

The opposition leader, Bill Shorten, and the environment spokesman, Mark Butler, said the Meridian decision showed the government’s stance on the RET was costing jobs. Shorten and Butler said Labor would reopen RET negotiations if the government moved away from its position.“Australian families will have Tony Abbott to thank when their power bills rise because of his ideologically destructive approach to renewable energy,” they said in a joint statement.

Meridian is not the first company to cite RET uncertainty as a reason for shelving or cancelling projects. Silex Systems announced in August it was suspending a project to construct a large solar power station in Mildura, Victoria.

Keppel Prince Engineering, a wind turbine manufacturer based in Portland, Victoria, notified workers in October that 100 staff would be made redundant.

Other renewables companies have said the uncertainty has stopped them making long-term investment decisions. http://www.theguardian.com/environment/2014/dec/12/burdekin-hydro-power-project-scrapped-over-renewable-energy-target-concerns

January 10, 2015 - Posted by Christina Macpherson | energy, Queensland