Pacific Hydro welcomes Minister Ferguson’s commitment to renewable energy

Australia's leading renewable energy company, Pacific Hydro, has today welcomed the launch of two key elements to Australia's response to climate change by Federal Minister for Resources and Energy, Martin Ferguson.

"In launching the Wind Energy Forecasting System and releasing draft guidelines on the Renewable Energy Demonstration Program for public consultation, Minister Ferguson has added to the growing list of government initiatives designed to effectively tackle climate change" said Pacific Hydro executive manager Government and Corporate Affairs, Andrew Richards.

"This is another clear signal of commitment from the Federal Government to substantially increase renewable energy in Australia demonstrating their resolve to work towards reducing carbon emissions from the stationary energy sector."

"The Renewable Energy Demonstration Fund will play a key role in bringing emerging renewable energy technologies to the market while the Wind Energy Forecasting System will aid in the management of increased wind energy into the national grid", said Mr Richards.

Both initiatives will assist the overall effectiveness of other Government policies such as the much anticipated increase in the renewable energy target to 20 per cent by 2020 which is a key policy for the development of the renewable energy industry in Australia.

"Pacific Hydro is ready to commit up to AUS$2 billion in new wind energy developments is Australia in the coming 5 years", added Mr Richards. "We are encouraged by the Governments commitment to addressing Australia's carbon emissions and the renewable energy industry is ready to play a primary role."

"An increase in Australia's renewable energy target to 20 per cent by 2020 will be an important part of this action."