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A$2 Billion Investment in Australian Wind Farms
AUSTRALIA - South African investment bank, Investec, is to develop wind-power projects in Australia worth more than more than A$2 billion.The bank has won planning approval this week for a A$700 million venture in Western Australia and is seeking clearance for a A$210 million project in Victoria state.
Those will be followed by a larger project, costing at least A$1.2 billion, in Queensland.
Reports in Bloomberg say Investec will probably start detailed design work on the 270-megawatt Collgar project, about 295 kilometers (183 miles) east of the Western Australian capital of Perth, in the first quarter of next year. The project will produce enough electricity to power about 160,000 homes.
Similar work should get underway on the 43-turbine Oaklands Hill project south of Glenthompson in western Victoria state about the same time, depending on approval.
The two projects, Investec's first wind energy ventures in Australia, could start operating in late 2010.
TheBioenergySite News Desk
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