Clean energy secured for ACT residents


May 8, 2015

ENERGY company Windlab will begin construction of a $50 million wind farm, designed to deliver clean power to 14,000 ACT homes, after receiving financial backing from major Japanese investor Eueus Energy Holdings. 

The Coonooer Bridge Wind Farm (CBWF), north west of Bendigo in Victoria, will generate about 80,000 megawatt hours of electricity annually from six turbines for just $81.50 a megawatt hour.

Windlab chief executive Mr Roger Price said the project demonstrated “enormous opportunity and benefit.”

“This is the cheapest wind energy produced in Australia and the reason for that is it is the best wind resource in Australia,” Mr Price said.

“At $81.50 fixed for 20 years, this electricity is more than competitive with any form of new build conventional generation.

“This location has both strong and consistent winds. It will produce energy nearly 90 per cent of the time and these conditions have attracted our major international investor Eurus.”

Power produced at the CBWF will be sold to the ACT after Windlab received a 20-year Feed-In-Tariff from the ACT Government in January as a part of its Climate Change Action Plan.

The Plan requires the Territory to source 90 per cent of its electricity needs from renewable sources by 2020.

“This is a win-win for the local community which wholeheartedly supports this development, for our company, for the residents of the ACT and all who support renewable energy.” Mr Price said.

The project was approved by regional Victoria’s Buloke Shire Council in 2013 and construction will begin in early 2016, creating about 70 jobs.