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Australia's TransGrid to ask CEFC for wind hub financing - report

Wind Farm in West Australia. Author: Lawrence Murray. License: Creative Commons. Attribution 2.0 Generic

July 24 (SeeNews) - Australian transmission system operator TransGrid is looking for funding to build a wind park hub near New South Wales state’s border with Queensland and may even resort to the CEFC, an official told Reuters.

TransGrid intends to consider support from all financing sources, including the Clean Energy Finance Corp (CEFC) and the Australian Renewable Energy Agency (ARENA), strategy head Greg Garvin said, as cited by the news agency.

However, by turning to the CEFC, TransGrid would defy Prime Minister Tony Abbott, who just recently ordered the AUD-10-billion (USD 7.3bn/EUR 6.6bn) fund to cease investments in local wind projects, Reuters said.

ARENA, on the other hand, only awards grants to undeveloped renewable energy technologies. A representative for the agency told Reuters it has discussed the matter with the company, without elaborating.

TransGrid’s plan is to build a hub to hook about three wind parks to the grid.

(AUD 1.0 = USD 0.727/EUR 0.664)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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