Wednesday 29th October 2014


October 29, 2014

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Australian firm scraps 600MW giant

Australian state-run energy firm Hydro Tasmania has ditched plans for its 600MW wind farm TasWind.

The firm announced its proposal for the A$2bn ($1.8bn) scheme on King Island, Tasmania, in November 2012, but yesterday said the 200-turbine scheme was no longer economically viable.

Hydro Tasmania chief executive Steve Davy said its feasibility analysis showed that the scheme was not financially viable as a standalone project, even if Australia’s Renewable Energy Target was retained at its current level. He also said changing economic conditions had seen the estimated capital costs rise by $150m.

Samsung and Pattern secure C$580m

Samsung Renewable Energy and Pattern Energy have secured C$580m ($518m) for the 180MW Armow in Ontario, Canada.

The developers have announced the completion of a construction and term loan financing with ten financial institutions.

The scheme is set to comprise 91 Siemens 2.3MW turbines, and is scheduled to complete in the fourth quarter of 2015. It has a 20-year power purchase agreement with Ontario Power Authority.

Alevo plans $1bn US battery rollout

Swiss power storage group Alevo has revealed a $1bn plan for battery storage factory to expand the use of wind and solar power.

The business has bought a 3.5m sq ft factory in North Carolina, formerly used by cigarette maker Philip Morris International, for $68.5m. It plans to use the factory to manufacture battery storage systems that can store up to 2MW; and is seeking to export its first GridBank battery system in mid-2015.

Alevo has said it plan to spend up to $1bn to develop a system that could get rid of waste from the grid and expand the use of wind and solar power. The project is a joint venture with Chinese state-owned China-ZK International Energy Investment Co.

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