Hydro Tasmania is progressing to the next stage of its wind development model by seeking private sector interest in part ownership of its Tasmanian wind farm assets.
Expressions of interest have been called for as the business seeks to divest up to 75 per cent of its equity interest in Bluff Point (65 MW) and Studland Bay (75 MW) wind farms (collectively known as Woolnorth).
This will assist Hydro Tasmania in building the Musselroe wind farm (168 MW) in the state’s north east. Work on Musselroe is expected to progress materially in
November with construction of the transmission line.
The proposed divestment follows the successful disaggregation of the Roaring 40s’ joint venture between Hydro Tasmania and China Light & Power (CLP) in June and the adoption of a new wind-development model. The new model provides Hydro Tasmania with a greater degree of control over the timing and direction of future wind investments.
Hydro Tasmania chairman, Dr David Crean said the announcement completes a rigorous and comprehensive assessment process by the board on how to best achieve Hydro Tasmania’s strategic objectives.
“Although (the) announcement is primarily about progressing our wind development plan over the next decade, it is also about ensuring we achieve our other key strategic objectives such as further mainland retail growth and improving our financial strength to BBB by 2015,” Dr Crean said.