Moree Solar Farm: Down but not out
24 June 2012
The Moree Solar Farm (MSF) consortium of Pacific Hydro and Fotowatio Renewable Ventures (FRV) are extremely disappointed with today’s announcement by the Federal Government that funding has been withdrawn from the Moree Solar Farm project.
“We are disappointed by the decision as we believe the Moree Solar Farm remains a project of the highest quality that delivers on the Solar Flagship Program objectives” said Pacific Hydro General Manager Australia, Lane Crockett.
“In our revised bid we were able to pass on substantial cost reductions due to lower panel prices and revised EPC arrangements resulting in a substantially reduced funding requirement.”
Mr Crockett said that despite this setback Pacific Hydro would continue to compete for solar projects in Australia however he warned that “it was important for investors that there is regulatory certainty, particularly on the Renewable Energy Target.”
The country manager of FRV Andrea Fontana said today he was also disappointed that the Federal Government had decided not to proceed with the Moree Solar Farm.
“We believe this project would have been of great benefit both to the development of the large scale solar power industry in Australia, but also to the regional economic benefit of Moree,” Mr Fontana said.
“The consortium had secured a Power Purchase Agreement (PPA) for the project and had completed extensive preparations that would have allowed the Moree Solar Farm to immediately proceed, however we accept the Australian Government’s decision.”
“While the consortium is extremely disappointed with this decision, we feel for the Moree community who have provided such great support to us and who were in dire need of some good news after recent natural disasters,” said Mr Crockett.
Mr Fontana also said “we are not prepared to give up on Moree after all the effort put in to date and will work with governments, our suppliers and the community over the coming months to see what can be achieved