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Wind farm developers say reviewing Renewable Energy Target every two years will scare off investment

Wind farm developers are concerned reviewing the Renewable Energy Target every two years will reduce the appetite for investment in the industry. The Federal Government announced it had reduced the RET from 41,000 gigawatt hours to 33,000, a figure with bipartisan support.

Wind farm developers are concerned reviewing the Renewable Energy Target every two years will reduce the appetite for investment in the industry.

The Federal Government announced it had reduced the RET from 41,000 gigawatt hours to 33,000, a figure with bipartisan support.

But renewable energy companies have expressed disappointment at the retention of a two-yearly review of the target, something they thought the Federal Government was prepared to drop.

Pacific Hydro operates five wind farms in Australia and is constructing six more, in addition to one geothermal project.

Manager of external affairs Andrew Richards said keeping the review process was a surprise.

"We understood from the government that it was something they were keen to address. They understood that two-year reviews of legislation around our industry is unhelpful," he said.

"So it's a bit of a surprise and disappointment that they have decided to maintain those reviews, it would appear, at the eleventh hour."

The same sentiment was expressed by Senvion's managing director Chris Judd.

Senvion is in the process of developing the Ceres Wind Project on South Australia's Yorke Peninsula, a project he now says will proceed farm more... more [truncated due to possible copyright]  

Wind farm developers are concerned reviewing the Renewable Energy Target every two years will reduce the appetite for investment in the industry.

The Federal Government announced it had reduced the RET from 41,000 gigawatt hours to 33,000, a figure with bipartisan support.

But renewable energy companies have expressed disappointment at the retention of a two-yearly review of the target, something they thought the Federal Government was prepared to drop.

Pacific Hydro operates five wind farms in Australia and is constructing six more, in addition to one geothermal project.

Manager of external affairs Andrew Richards said keeping the review process was a surprise.

"We understood from the government that it was something they were keen to address. They understood that two-year reviews of legislation around our industry is unhelpful," he said.

"So it's a bit of a surprise and disappointment that they have decided to maintain those reviews, it would appear, at the eleventh hour."

The same sentiment was expressed by Senvion's managing director Chris Judd.

Senvion is in the process of developing the Ceres Wind Project on South Australia's Yorke Peninsula, a project he now says will proceed farm more cautiously than before.

"It creates a hugely uncertain swinging of investment as we go into each of these reviews," Mr Judd said.

"For 15 months now, both sides of government, and the Coalition particularly, have been very adamant and clear to the industry the reviews would be removed and there would be no further reviews of the RET before 2020."


Source: http://www.abc.net.au/news/...

MAY 11 2015
http://www.windaction.org/posts/42663-wind-farm-developers-say-reviewing-renewable-energy-target-every-two-years-will-scare-off-investment
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