Trustpower announced yesterday it had received its planning permit for a 96-turbine wind farm near Dundonnell, in southwest Victoria, understood to be costing more than $A600million.
Separately, Downer EDI announced yesterday a two-year extension providing mining services at Stanwell Corp's Meandu coal mine, in southeast Queensland, valued at about $A250million.
Downer was New Zealand-founded and dual listed for many years and is now headquartered in Australia.
Trustpower shares were up 5c on the NZX at $7.76 following the announcement, while Downer's were up slightly at $A3.91 on the ASX.
The Dundonnell wind farm project is about 23km northeast of Mortlake, in the western district of Victoria. It has 96 turbines, up to 165m high, spread over 4200 ha, and the potential to power more than 200,000 homes.
Trustpower chief executive Vince Hawksworth welcomed the Victorian government's decision to grant the permit, after an extensive and comprehensive assessment process.
"The granting of the Dundonnell Wind Farm permit means that Trustpower now has three projects with planning approvals in Australia that in total represent over 500MW of potential new capacity,'' he said.
Trustpower is yet to go to tendering for supply of the Dundonnell turbines.
"The turbines will be similar to Mahinerangi and Snowtown ... but quite a few more,'' he said.
Trustpower wind generation development manager Rontheo van Zyl said the Dundonnell project, which was first proposed by local residents, was located in stony rise country with rocky ground that was limited to grazing for income.
"This site has a strong wind resource, which makes it a favourable location for a wind farm,'' he said.
Over the next 12 months Trustpower would be planning construction and doing economic and wind turbine procurement assessments. Building would begin in late 2017 and generation by late 2018.
The Meandu mine produces about 5.5 million tonnes of coal a year for the adjacent Tarong and Tarong North power stations.
Downer has provided mining services at Meandu since January 2013. The original contract was to expire in June 2018 but has been extended to June 2020, and is valued at about $A250million.
Downer chief executive Grant Fenn said the extension reflected Downer's strong performance and commitment to delivering cost savings and operational improvements at the mine.
Trustpower
CAPACITY
Trustpower owns and operates primarily renewable energy assets, including 38 hydro stations - 35 in New Zealand and 3 in Australia; 3 New Zealand wind farms; and 4 Australian wind farms, including the South Australian Snowtown wind farm, Australia's second-largest.
DEMERGER
Splitting Trustpower into two companies
New Co will hold Trustpower's Australian and New Zealand wind generation assets and its wind and solar development projects. New Co will develop Dundonnell.
New Trustpower will focus on hydro-electricity in New Zealand and Australia, and multiproduct retailing in New Zealand.
Source: Trustpower
