Uncategorized

Chinese blow in

CBD had been assessing several options for the two Chinese companies, with Taralga the first of the projects off the block.The project has approvals for up to 61 wind turbines, which RES said should provide a combined 100 megawatts of energy, providing about 300 gigawatts of energy to power 40,000 homes per year.The consortium, named AusChina, expects to start work on the farm later this year with a completion date set for 2013.CBD managing director Gerry McGowan said it was both a major milestone for the consortium and for CBD.“It brings together two Fortune 500 Chinese companies which will provide equipment and expertise in a major project in Australia,” he said.“Involvement of these companies means renewable energy can be produced more economically and begin to represent a cost effective alternative to traditional energy in Australia.AusChina was formed in April this year with an eye to capturing a third of the Australian wind power market.CBD was appointed to manage the consortium, earning a management fee of 0.5% per year of AusChina’s assets.