Wednesday 26 January 2011

Lack of carbon price handicaps projects

Summaries - Australian Financial Review
18 January 2011, Page: 35

Spanish group Acciona Energy, which recently led a consortium to construct the Brisbane Northern Link Tunnel, has dropped out of the running for the Federal Government's $1.5 billion Solar Flagships program, intended to encourage investment in renewal energy. Acciona Energy's Brett Thomas said part of the reason for dropping out was a lack of certainty over carbon pricing.

The departure of Acciona Energy leaves seven other groups in the running to build solar projects, including AGL Energy, a consortium made up of Infigen Energy and Suntech Power, and consortium of Transfield Services and the Transfield Services Infrastructure Fund among others. Acciona Energy, which acquired renewable energy assets from Spain's Endesa in 2009, has previously looked at Australian acquisitions including Pacific Hydro - which was acquired by Industry Funds Management, United Utilities Australia and the Western Australia Emu Downs Wind Farm.

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