The path we've walked

Pacific Hydro was founded in 1992, and since that time has developed an impressive range of hydro and wind projects in Australia and overseas.

With a policy of not building any new dams, all our hydro projects have made use of either existing irrigation dams or run-of-water flows, while our wind projects have been sensitive to the existing farming environment and communities of our sites.

A series of small-scale Victorian hydro projects were followed by our award-winning 30MW Ord River Hydro project in 1995. It was a development others had assessed, but failed to capitalise on, and an opportunity we seized upon to build on our experience and portfolio.

The next logical step was our first international development, which got under way in 1997 when we signed a joint venture agreement with Aboitiz Equity Ventures for a 70MW hydro project on the Bakun River in the Philippines. The development remains the largest infrastructure project ever built in the Philippines by an Australian company.

In 2001, we diversified into wind energy, the world's fastest growing energy source, with completion of the first privately developed wind farm in Australia: the Codrington Wind Farm in southwest Victoria.

We currently have more than 1,000MW of wind projects at various stages of development including the significant Challicum Hills Wind Farm and Portland Wind Project.

In 2004, Pacific Hydro acquired the Chilean Coya and Pangal hydro plants. The acquisition was an attractive investment, diversifying our international hydro portfolio as well as complementing our existing development activity in Chile.

Pacific Hydro has projects slated for development across Australia, Chile and Brazil ambitious goals to grow into a global renewable energy force by 2011.

Our projects will continue to reward investors, safeguard the environment and support local communities by generating employment and encouraging local initiatives through our Australian-first Sustainable Communities Fund.

In July 2005, Pacific Hydro was purchased by Industry Funds Management Ltd. as trustee of IFM infrastructure funds(IFM). IFM is an Australian organisation that was established in 1994 to provide a range of services and products to industry superannuation funds and their members, and with their backing we're looking forward to taking our company to the next level.

2005 was also the year we broke into the world of carbon trading, negotiating the world's first bank intermediated sale of carbon credits from our Wainikasou and Nagado hydro projects in Fiji.

The following year, our 155MW La Higuera hydro project in Chile became the largest project to receive registration under the Kyoto Protocol's Clean Development Mechanism, positioning us perfectly to play a major role in this valuable new market.

Key dates:

• 1992
• 1993
• 1994
• 1995
• 1996
• 1997
• 1998
• 1999
• 2000
• 2001
• 2002
• 2003
• 2004
• 2005
• 2006
• 2007
• 2008
• 2009

 

1992

Pacific Hydro founded by three hydro electrical engineers in Melbourne, Australia.

 

1993

The company floated on the Australian Stock Exchange on the 1st of April.

 

1994

Completion of our first two hydro power stations - at Lake Glenmaggie and Lake William Hovell.

 

1995

New hydro power stations at the Eildon Pondage and Lake Eppalock commissioned. Construction commences on the 30MW hydro power station at the Ord River Dam.

 

1996

Pacific Hydro signs 50 per cent joint venture agreement with Aboitiz Equity Ventures to develop the Bakun Hydro Project in the Philippines. The Company is recognised with the Institute of Engineers Engineering Excellence Award for the Ord River Hydro Project.

 

1997

Construction commences on the Bakun Hydro Project. Pacific Hydro receives the 1997 AustEnergy Exporter of the Year Award for the Bakun project.

 

1998

Pacific Hydro acquires 50 per cent of a New Zealand electricity generation and retail business. The Company wins the Banksia Environmental Award for best environmental business practice.

 

1999

Planning permission granted by Moyne Shire in southwest Victoria for the development of Codrington Wind Farm.

 

2000

Construction commences on Victoria's first wind farm at Codrington in southwest Victoria.

 

2001

Victorian Premier Steve Bracks officially opens Codrington Wind Farm. The Company divests its 50 per cent share in the Bay of Plenty Electricity business in New Zealand. Agreement reached with Murray Irrigation Limited for construction of a 2MW hydro project on the Mulwala Canal in NSW at a location known as The Drop. Commissioning of the 70MW Bakun Hydro Project.

 

2002

Construction of the Challicum Hills Wind Farm in western Victoria commences. The Drop hydro project in New South Wales commences operation. The Portland Wind Project granted Federal and Victorian government planning approval. Pacific Hydro receives its second Banksia Environmental Award this time in the Small Business Responsibility & Leadership category. Sustainable Asset Management recognises Pacific Hydro as one of four Australian companies that represent outstanding examples of sustainability leadership. Planning approval granted for the development of the Fremantle Wind Project in Western Australia. Pacific Hydro opens office in Chile.

 

2003

Pacific Hydro signs a joint venture agreement with the Fiji Electrical Authority to develop 100MW of wind and hydro generation in Fiji. Pacific Hydro forms joint venture company Seapower Pacific with Carnegie Corporation to develop wave energy technology. Completion of Australia's largest wind farm at Challicum Hills. Planning approval received for the 58MW Clements Gap Wind Farm in South Australia.

 

2004

Acquisition of the Coya and Pangal hydro projects in Chile. Completion of a joint venture agreement with SN Power for the joint development of La Higuera and La Confluencia hydro projects in central Chile.

 

2005

In May Pacific Hydro through its Fijian joint venture Sustainable Energy Limited (SEL), negotiates the world's first bank intermediated carbon credit transaction involving the sale of Certified Emission Reduction (CER) credits to be created under the Kyoto Protocol. In July Pacific Hydro is purchased by IFM Renewable Energy under the control of Industry Funds Management Pty Ltd (IFM). Financial Close of La Higuera Hydro Project is received in November. The project is the largest investment by an Australian company in the Chilean electricity sector.

 

2006

In March, La Higuera hydro project in Chile achieves registration to generate carbon credits under the Kyoto Protocol's Clean Development Mechanism (CDM). The 155MW hydro project is the first in project in Chile and the largest project to receive registration. Pacific Hydro enters the Brazilian energy market with the successful acquisition of German wind subsidiary, SES Ltda. The company will be known as Pacific Hydro Brazil.

 

2007

Pacific Hydro commences construction of the 58MW Portland Wind Energy Project II at Cape Bridgewater in southwest Victoria, Australia. La Higuera hydro project receives registration with the Dutch designated national authority, opening the way for the sale of Certified Emission Reductions (CERs) into the European Union.

 

2008

Launched Australia's first full-service CDM consulting business with Australian engineering consulting firm SMEC (SMEC International Pty Ltd) Commenced construction of the Chacayes project in Chile (the largest financial commitment to the Latin America power market)

 

2009

May 2009 began construction of main works of Chacayes. Pacific Hydro signed a joint venture with Astaldi by which the Italian constructor got a 27% of the property May 2009- Mitsui entered as a shareholder in Perenia Practical completion at PWEP III Practical completion of Vale dos Ventos