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British developer RES forms Australian subsidiary
1 January 2004
The UK's Renewable Energy Systems (RES) -- a leading wind farm developers -- has formed a RES Australia subsidiary, based in Sydney. It has also formed a joint venture with Southern Cross Windpower, an independent wind developer, also in Sydney. The joint venture has a portfolio of around 300-400 MW of projects in development in New South Wales (NSW), while RES Australia has a further 300 MW in the pipeline elsewhere. Australia is "an important market with huge potential for wind power," comments Peter Quilleash of RES. Initially the joint venture is establishing a development team and will have four people based in the Sydney office. "Our focus is NSW, although we are looking at other sites. We have eight project sites in NSW at present, the first two, which have a capacity of around 90-100 MW, we would hope to get financial closure on next year."
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