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Australia

Australia

Pacific Hydro buys Victoria wind assets

Pacific Hydro's proposal to establish Australia's largest privately owned wind farm at Codrington in coastal south-west Victoria has been followed by the purchase of Energy Equity Corporation's Victorian wind assets in line with the company's strategy to be the "pre-eminent provider of commercial green energy" in Australia. Pacific Hydro, founded in 1993 and based in Melbourne, has power generation operations in Australia, New Zealand and the Phillipines, "While Codrington has been confirmed so far, the company is ready to develop numerous wind farms when the federal government provides a general incentive for renewable energy or accounts for the externalities of existing coal fired electricity," says Pacific Hydro's Jeff Harding. His comments go hand-in-hand with the renewable energy lobby's growing concern about low electricity prices from coal plant, a direct result of government policy to continue subsidies to the conventional power sector and not to tax CO2 emissions. Approval of the development application for Codrington -- slated at 18 MW -- has been granted and the tendering process begun. The success of the Codrington application has led Pacific Hydro to advance development of potential Energy Equity wind plant sites at Cape Bridgewater and Cape Nelson. Energy Equity, generators and producers of power, gas and energy with operations in Australia, Indonesia and Western Australia, retains equity participant status in the projects that reach generating stage.

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