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UK wind farm developer Renewable Energy Systems Ltd (RES) has announced
today the incorporation of a new subsidiary, RES Australia Pty Ltd, and
the formation of a joint venture with Australian company Southern Cross
Windpower. RES Australia will be based in Sydney from December 2003.
The joint venture between RES Australia and Southern Cross Windpower
has a portfolio of between 300 and 400MW of wind power capacity currently
under development in New South Wales. RES Australia also has a further
300MW under development elsewhere throughout Australia.
Peter Quilleash, Development Director for RES, commented;
“Having identified Australia as an important
market with huge potential for wind power, we are delighted to now
be establishing a base there and to announce our new joint venture
with Southern Cross Windpower. "
"Southern Cross’s local knowledge and
experience of the Australian market will complement our specialist
skills and experience in the global wind industry to produce what we
are confident will be a fruitful partnership. It will take advantage
of the favourable renewable energy policies of both the Federal and
New South Wales’ governments to bring online a number of successful
wind energy projects throughout the State. We also look forward to
developing projects in other parts of the country through our new company,
RES Australia.”
Colin Liebmann, Managing Director of Southern Cross
Windpower said;
“We are delighted to enter into joint venture
with RES to develop our windfarms in New South Wales. RES will bring
considerable expertise, resources and reputation to the venture and
all our stakeholders will benefit from their participation."
“RES’ entry into the Australian renewable
energy market is a demonstration of the specialised skills and foreign
investment that has been be attracted to Australia by the Federal Government’s
renewable energy policy. Further investment and the establishment of
a long term sustainable industry here can only be assured by an increased
Mandatory Renewable Energy Target in line with international targets.”
The Australian Government established a Mandatory
Renewable Energy Target through its Renewable Energy (Electricity) Act
2000, which requires electricity retailers and other large buyers of
electricity to collectively source an additional 9,500 gigawatt hours
of electricity per annum from renewable sources by 2010. The State of
New South Wales is aiming to encourage the development of sustainable
and environmentally friendly industries. The growth of the wind energy
market in New South Wales and elsewhere in Australia will bring employment
benefits in manufacturing, engineering and services, as well as helping
to meet targets for the reduction of greenhouse gas emissions. ENDS
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