Australian wind firm wins RMB1.8bn Chinese contract

BEIJING, June 1 — Australian wind developer Roaring 40s Renewable Energy has signed a AUS$300 million (RMB1.8 billion) contract with Chinese energy company Guohua Energy to build a wind power plant near Rongcheng city on China’s east coast, Shandong Province.
The first stage of the contract will be a RMB480 million, 48.75MW wind farm, which will begin construction later this year.
Roaring 40s Renewable Energy is a venture between Hydro Tasmania and Hong Kong’s CLP Holdings. It recently halted work on wind projects in Australia citing uncertainty in the renewable energy certificate market there.
Commenting on the contract in Tasmania’s Mercury newspaper, Australian Greens energy spokesperson Senator Christine Milne said it was alarming that China was benefiting from the jobs and investment that could be rolling out in Australian communities.
“The leadership being shown by China in setting a 15 per cent target for renewable energy is not only great for the global environment but it will boost the Chinese economy by creating competitive advantage in renewable energy technology,” Milne said.
Australian energy firms are enjoying considerable success in China – three of the six deals announced during Chinese premier Wen Jiabao visits to Australia in April were energy-related. At the time, Australia deputy prime minister and minister for trade Mark Vaile said “Renewable energy is another emerging new frontier in the economic relationship.”
“Australia is also helping to address China’s environmental needs by providing cleaner energy and reducing greenhouse gas emissions,” he said here, highlighting LNG work by Kerr McGee and CNOOC International; and the development by HRL and Harbin Power Engineering of a 400MW clean coal plant in Victoria’s Latrobe Valley, Australia.

About James Ockenden (226 Articles)
A writer covering international energy and power markets since 1996
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