Bright future for the Australian economy and the environment

1 July 2012

Leading Australian renewable energy company, Pacific Hydro, welcomes the first day of Australia’s clean energy future.

“As of today Australia has a price on carbon that will accelerate the transformation to cleaner, safer and healthier energy systems and take advantage of new economic opportunities at both home and abroad,” said Lane Crockett, Pacific Hydro General Manager Australia.

“Putting a price on carbon provides a framework for long-term investment certainty that will help us move away from a high polluting energy supply that is open to increasingly volatile fuel costs to a clean energy future that has near zero fuel costs.”

Celebrating 20 years of clean energy in 2012, Pacific Hydro has developed and operates 300 MW of wind farms and hydros in Australia, where it built the country’s first commercial wind farm in 2001. It also has an Australian development pipeline of over 1,000MW of renewable energy projects at various stages of development that it will bring forward over the coming years.

“While our Australian based projects primarily rely on the 20% by 2020 renewable energy target, as the carbon price becomes embedded in the economy it will add a level of long term market stability, providing investors with a more reliable view of investing in the Australian energy sector.”

In addition to its Australian operations, Pacific Hydro has substantial clean energy businesses in Chile and Brazil where a range of policy measures are used to provide investor certainty and encourage deployment of renewable energy assets.

“Our investments in Chile and Brazil are underpinned by a firm commitment and decisive action from government that will see the continued diversification energy supply in those countries. As in Australia, having a stable and reliable policy and regulatory framework in place is critical to success”

“In Australia it s a very exciting time for Pacific Hydro and we congratulate all those involved from the community, business and political communities who have worked so hard to bring about this fundamental reform that will strengthen our economy and preserve our environment for generations to come.”