Victoria’s new wind farms going ahead
New wind farms for Victoria by Mark Eggleton, AFR, Jul 8 2015 This content is produced by The Australian Financial Review in commercial partnership with GE With the first new wind farm development beginning construction in Victoria since the election of the Coalition government recently, Australia could be on the brink of a new burst of activity in the renewable energy sector.
It follows the recent announcement of the $450 million Ararat project to build Australia’s third-largest wind farm in south-western Victoria with financing provided by developer Renewable Energy Systems (RES), turbine-maker General Electric and two other backers.
Yet while the new facility at Coonooer Bridge owes nothing to the recent agreement on the renewable energy target, the Ararat announcement came within days of the RET deal being passed in Parliament. Both projects come at a time when Australian business is starting to feel mildly confident about Australia’s energy future with the RET deal delivering much-needed certainty to the sector. Moreover, both wind developments play to the country’s natural resource strengths.
WIND SPEEDS
GE’s sales and finance managing director for Australia and New Zealand, Jason Willoughby, says Australia is blessed with great renewable energy resources – both from a wind perspective and from a solar perspective.
“I speak to colleagues in the US and in Europe and we compare what the wind speeds in Australia are, and they’re amazed that they’re so good and well located to where the load is.”
Importantly for Australia, Willoughby said the renewable energy target will unlock upwards of $10 billion of investment. http://www.afr.com/news/special-reports/australia-energy-future/new-wind-farms-for-victoria-20150708-gi6ulf
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