January 13, 2009 -
AGL Energy Limited's acquisition in December of the proposed wind farm development project at
Coopers Gap, near Kingaroy, is part of a larger strategy by the energy giant to develop a string of renewable energy projects to meet its obligations under the Federal Government's
Renewable Energy Target (53kb PDF) (RET) Scheme.
"This transaction is consistent with our strategy of acquiring a pipeline of projects that will be at the bottom end of the cost curve and benefit from future uplifts in pricing," AGL Managing Director
Michael Fraser said.
As well as the 300MW Coopers Gap project, AGL has purchased a 150MW windfarm project at Crows Nest, near Toowoomba, and seven other projects in NSW, Victoria and South Australia.
At the same time it has sold its interest in the Hallett 2 wind farm in South Australia to an investment trust managed by ANZ Infrastructure Services but is keeping control of the project's Renewable Energy Certificates and electricity output.