14 October 2005
Hydro Tasmania today announced that its renewable energy development joint venture with CLP Power Asia, Roaring 40s, will build a major wind farm in the world’s fastest growing economy.
Hydro Tasmania Chair Dr David Crean said Roaring 40s had entered into a joint venture partnership with Chinese company, Datang Jilin Power Generation Co Ltd, to build the 50 megawatt Shuangliao wind farm in China’s Jilin province. Jilin province is in north-east China on the border with Inner Mongolia.
Dr Crean made the announcement from Beijing at the signing of a Strategic Co-operation Agreement with China Datang Corporation, the parent company of Datang Jilin.
“This is a major announcement for Roaring 40s and Hydro Tasmania,” Dr Crean said. “It is the first step in what we believe will be a significant strategic move into the Asian market, and China in particular.
“After an intensive process of investigation and evaluation, Hydro Tasmania’s Board has approved involvement in the project, and has received Ministerial approval to enter into the joint venture.
“We are pursuing a strategy of renewable energy development in Asia and this project is the first of a number that have been identified as commercially attractive.
“The project gives Hydro Tasmania and Roaring 40s a very strong profile in the rapidly growing Chinese renewable energy market. It could also help other Tasmanian businesses keen to develop a relationship with China.”
The project arises from a co-operative agreement Hydro Tasmania signed in Canberra in May, under the Australia-China Climate Action Partnership. Mr Wu Bangguo, head of China’s National People’s Congress, witnessed the signing.
“The Chinese economy is growing rapidly, greatly increasing energy demand, and China is embracing renewable energy as a means of meeting that demand,” Dr Crean said.
“China has targeted 20,000 megawatts of wind energy by 2020. This is about half of Australia’s total generating capacity from all sources.
“Roaring 40s’ renewable energy development capability and experience are recognised by the Chinese as key strengths in these new, very large markets.”
Construction is scheduled to commence before this year’s northern winter, with full commissioning of the project by the end of 2006.
A groundbreaking ceremony was held at the Shuangliao Wind Farm site this week to mark the commencement of the project.
Hydro Tasmania and CLP Power Asia Limited announced last month they will jointly pursue renewable energy developments in Australia and overseas.
The development vehicle for this partnership will be Hydro Tasmania’s Roaring 40s Renewable Energy Pty Ltd.
CLP agreed to invest over $A110 million in order to become Hydro Tasmania’s 50 per cent partner in Roaring 40s.
ends
Released by David Jeffrey (03) 6230 5668
Profiles of Datang Jilin and its parent Datang Corporation
China Datang Corporation
China Datang Corporation (CDGC) is one of the five major state-owned electricity generation corporations in the People’s Republic of China. The principal business activities of CDGC include the development, investment, construction and management of power plants. CDGC has an installed electricity capacity of 40 Gigawatts, which is16 times larger than that of Tasmania.
Datang Jilin Power
Datang Jilin Power Generation Co. Ltd. is a wholly-owned subsidiary of CDGC, which is principally engaged in the business of generating and selling electricity and thermal power in the Jilin Province. Datang Jilin has an installed electricity capacity of 2600 Megawatts, which is about the same as Tasmania.