NSW Renewable Energy Action Plan Welcomed by Pacific Hydro

10 September 2012

Pacific Hydro has welcomed the NSW Government’s Renewable Energy Action plan saying that the proposal is recognition by the Government that building a strong renewable energy industry is vital to supporting regional employment and growing investment in the state.

“The release of the NSW plan underscores the need for a predictable, stable investment environment and the important role renewable energy will play in regional job creation,” said Pacific Hydro’s general manager for Australia, Mr Lane Crockett.

“The NSW government has recognised that the best way to ensure that renewable energy is deployed at least cost to NSW energy customers, and with maximum benefit to the state, is to safeguard that the national renewable energy target (or LRET) at its legislated level of 45,000 gigawatt hours.”

The cost of uncertainty represented by recent calls to tie the LRET to perpetually fluctuating electricity demand will only serve to delay project deployment, reduce investment and hamstring opportunities for growth in rural and regional areas.

“NSW has significant opportunities in large scale solar and wind which the government clearly recognises”, added Mr Crockett.

“Least cost clean energy projects will provide protection for NSW consumers against the rising costs of gas and coal as well as helping to reduce the health impacts associated with air pollution.”

“Pacific Hydro is continuing to pursue its plan with Fotowatio Renewable Ventures (FRV) to build the Moree Solar Farm and we welcome the NSW government’s support for this project.”

Pacific Hydro’s is continuing discussions with ARENA about the proposed Moree Solar Farm. If successful, Pacific Hydro and FRV plan to build a 50-60MW solar PV project built about 10km out of Moree, creating 300-400 jobs during its 18 month construction.