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Victorian renewable energy target (VRET) triggers wind, hydro and solar energy projects throughout state

Posted by gmarkets on 15 September, 2007

In spite of political opposition, the Victorian renewable energy target (VRET) legislation had resulted in a significant increase in renewable energy in the state, Victorian Minister for Industry and Trade, T C Theophanous, said in the Victorian Legislative Council on 23 August 2007.

$400 million wind farm investment: According to Theophanous the Opposition had “…voted against the Victorian renewable energy target (VRET) legislation. They have done everything they possibly could to make sure that there was no renewable energy industry. Notwithstanding that, the renewable energy industry is an important industry, and it has resulted in a significant increase in renewable energy in this state. Let me give the house some examples. We already have a number of wind farms operating: the Challicum Hills, Codrington, Portland, Toora and Wonthaggi wind farms. On top of that, under construction is the massive 192-megawatt Waubra wind farm near Ballarat, with an investment of somewhere around $400 million. There are a number of big wind farm projects, but that is not all the renewable energy industry driven by the Victorian renewable energy scheme has been able to facilitate.”

VRET encourages further $630 million investment: “The new Bogong hydro scheme was only possible because of the VRET scheme,” Theophanous said. “It is a $230 million investment; so there is new hydro power as well. The proposed solar power facility in Mildura, which is an investment of in excess of $400 million, can only work with the assistance of the Victorian renewable energy scheme. There are many other wind farms which are in the planning stages or have received planning approval, including the Macarthur wind farm, the Gellibrand wind farm, the Mount Mercer wind farm, the Yaloak wind farm and various others. The Macarthur wind farm is an AGL wind farm. A lot was said about the Dollar wind farm, and it is not going ahead. But AGL is going ahead with the Macarthur wind farm, which is a 300-megawatt wind farm investment in this state.”

Reference: T. C. Theophanous, Minister for Industry and Trade, Parliament of Victoria – Legislative Council Daily Hansard, Victoria, 23 August 2007.

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