Published Thursday, 29 November, 2007 at 02:19 PM
JOINT STATEMENT
Premier
The Honourable Anna Bligh
Minister for Sustainability, Climate Change and Innovation
The Honourable Andrew McNamara
Wind Sale Offers Massive Boost to Climate Change Fund
The Queensland Climate Change Fund received a massive boost today with the successful sale of the State’s wind farm assets, Premier Anna Bligh announced today.
Ms Bligh said the wind farm assets – which are spread across South Australia, Western Australia and Victoria as well as Queensland – had been sold to successful bidder Transfield Services Infrastructure Limited.
It will purchase the assets from Stanwell Corporation Limited and Tarong Energy Corporation for $460.4 million.
The wind sale package includes:
• Tarong’s Mt Millar and Starfish Hill wind farms, both located in South Australia;
• Stanwell’s Windy Hill wind farm in Queensland
• Stanwell’s Toora wind farm in Victoria
• A 50% Stanwell interest in Emu Downs wind farm in Western Australia and
• Stanwell’s wind farm development projects, located around Australia.
“This is an excellent financial outcome for Queensland taxpayers and paves the way for further investment in one of the most significant global challenges we face,” Ms Bligh said.
“After accounting for costs of sale and debt, it is estimated that $430 million in net sale proceeds will be available for investment in our ground breaking Queensland Climate Change Fund.
“That’s $130 million more than we originally anticipated for the Fund.
“This total investment could be expected to provide an ongoing annual funding source of approximately $30 million.
“Money that we will be able to pump directly into projects such as assistance to help Queenslanders adapt to the impacts of climate change and encourage more sustainable and environmentally friendly practices at work and at home.”
Minister for Sustainability, Climate Change and Innovation, Mr Andrew McNamara, said the Climate Change Fund will provide ongoing funding through interest earned asset sale proceeds to promote energy efficiency and the uptake of renewable and alternate energy sources.
“The Fund will assist Queensland households and communities to cope with the climate change challenge; to find new ways to live sustainably,” Mr McNamara said.
Treasurer Andrew Fraser said today’s announcement completes the wind and gas sales - announced in June this year - and brings the combined gross sale proceeds from the sale of the Enertrade gas business along with the wind assets to $728.4 million.
Transfield Services Infrastructure Limited is the asset holder and head entity of a group of entities listed as Transfield Services Infrastructure Fund (TSI).
TSI has a market value of over $1.3 billion and holds a portfolio of assets that includes three wholly owned power stations including the Townsville Power Station and the Collinsville Power Station.
Further inquiries: Premiers Office (07) 3224 4500
Ms Bligh said the wind farm assets – which are spread across South Australia, Western Australia and Victoria as well as Queensland – had been sold to successful bidder Transfield Services Infrastructure Limited.
It will purchase the assets from Stanwell Corporation Limited and Tarong Energy Corporation for $460.4 million.
The wind sale package includes:
• Tarong’s Mt Millar and Starfish Hill wind farms, both located in South Australia;
• Stanwell’s Windy Hill wind farm in Queensland
• Stanwell’s Toora wind farm in Victoria
• A 50% Stanwell interest in Emu Downs wind farm in Western Australia and
• Stanwell’s wind farm development projects, located around Australia.
“This is an excellent financial outcome for Queensland taxpayers and paves the way for further investment in one of the most significant global challenges we face,” Ms Bligh said.
“After accounting for costs of sale and debt, it is estimated that $430 million in net sale proceeds will be available for investment in our ground breaking Queensland Climate Change Fund.
“That’s $130 million more than we originally anticipated for the Fund.
“This total investment could be expected to provide an ongoing annual funding source of approximately $30 million.
“Money that we will be able to pump directly into projects such as assistance to help Queenslanders adapt to the impacts of climate change and encourage more sustainable and environmentally friendly practices at work and at home.”
Minister for Sustainability, Climate Change and Innovation, Mr Andrew McNamara, said the Climate Change Fund will provide ongoing funding through interest earned asset sale proceeds to promote energy efficiency and the uptake of renewable and alternate energy sources.
“The Fund will assist Queensland households and communities to cope with the climate change challenge; to find new ways to live sustainably,” Mr McNamara said.
Treasurer Andrew Fraser said today’s announcement completes the wind and gas sales - announced in June this year - and brings the combined gross sale proceeds from the sale of the Enertrade gas business along with the wind assets to $728.4 million.
Transfield Services Infrastructure Limited is the asset holder and head entity of a group of entities listed as Transfield Services Infrastructure Fund (TSI).
TSI has a market value of over $1.3 billion and holds a portfolio of assets that includes three wholly owned power stations including the Townsville Power Station and the Collinsville Power Station.
Further inquiries: Premiers Office (07) 3224 4500