The RET Review has cast a shadow of doubt over Australia’s largest wind farm project that was given the go ahead by the South Australian government in February.
The prospect of the Abbott government reducing or weakening the Renewable Energy Target puts the 600 MW Ceres wind farm at risk (but that’s not all).
“We need a strong RET to move ahead,” managing director of Senvion Australia Chris Judd has told The Advertiser. “We don’t want this private investment, that will create 500 construction and 50 ongoing jobs in Australia, to be put at risk.”
Jobs in regional Australia isn’t all that’s at stake. In addition to losing critically important renewable energy capacity, $1.5 billion worth of investment and and estimated $8 million (p.a for 25 years) boost to the local economy could go.
“The RET review has already seen investment stall right across Australia because of the continuing uncertainty,” Mr Judd said. “This is frustrating for our business, as we see enormous opportunity here.”
The Ceres wind farm is the latest of a series of projects which have stalled due to policy uncertainty since the Abbott government announced the RET Review in February.
Origin Energy has put its $900 million Stockyard Hill wind farm in western Victoria on ice. Spanish company Acciona has $750 million worth of projects on hold or at risk. Infigen Energy has 1000 MW of wind and solar projects approved but under threat.
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