Forum Archive Index - August 2002

["Morgy" <morgy40@xtra.co.nz>]

Adam

I was about to close out of PHY & count my loss, but thats great news. If I
can close out in profit I will be happy.

Morgy
----- Original Message -----
From: "Adam Rands" <adam@iguana2.com>
To: <sharechat@sharechat.co.nz>
Sent: Thursday, August 15, 2002 1:08 PM
Subject: [sharechat] Pacific Hydro (PHY)


> Picking up on a thread from a few months back
>
> Pacific Hydro have been granted State approval for the new wind farm in
> Portland.
>
> Share price up 6% on the news.
>
> I really think this is an exciting project economically and
environmentally.
>
> 2000 new jobs for Victoria
> 800,000 tones less green house emissions
> Huge export potential to Asia given the pollution problems they are
facing.
>
> Did anyone get in a few months back?
>
> Adam
>
> Disc - Long PHY and considering buying more
>
>
> >PACIFIC HYDRO LIMITED                         2002-08-15  ASX-SIGNAL-G
> >
> >HOMEX - Melbourne
> >
> >+++++++++++++++++++++++++
> >Australia's leading renewable energy company, Pacific Hydro (ASX:
> >PHY) is poised to double its generating capacity following today's
> >State Government approval of the 180 MW Portland Wind Energy Project.
> >The project now needs the endorsement of the Federal Environment
> >Minister for it to proceed.
> >
> >Full approval of the project will see 120 wind generators built at
> >Cape Bridgewater, Cape Nelson, Cape Sir William Grant and Yambuk,
> >creating one of the biggest wind farm projects in the world, and the
> >largest in the southern hemisphere.
> >
> >Pacific Hydro Managing Director Mr Jeff Harding welcomed the
> >decision, and acknowledged the massive contribution of the Portland
> >community to the development of the project throughout the two year
> >planning process.
> >
> >"We are delighted with this result which is a well earned outcome for
> >the people of Portland who have been so supportive throughout the
> >process. It is also a significant milestone for both the development
> >of the wind industry in Australia and for Pacific Hydro," Mr Harding
> >said.
> >
> >"This project exemplifies Pacific Hydro's extensive consultative
> >approach to development and highlights its ability to work closely
> >with the local community in delivering a project of scale and value,"
> >he said.
> >
> >"This development will generate enough pollution free electricity to
> >power a city the size of Geelong, reducing Australia's greenhouse gas
> >emissions by approximately 800,000 tonnes per annum, which is the
> >equivalent of taking 200,000 cars off the road. The Bracks Government
> >is to be congratulated for their vision and support of Portland and
> >the Australian wind industry"
> >
> >The project constitutes a $270 million investment for Pacific Hydro,
> >and will lead to the creation of up to 2000 jobs across Victoria. The
> >project also provides significant benefits in terms of tourism,
> >revegetation, community support, the establishment of a renewable
> >energy centre in Portland and the potential for an export industry to
> >South-East Asia worth $100 million per annum.
> >
> >"As a result of this project Portland is set to become a key wind
> >generator manufacturing centre in Australia. We have an agreement in
> >place that will, barring unforeseen circumstances, see NEG Micon, a
> >world leading manufacturer, establish a factory in Portland to
> >manufacture wind generators for this project, as well as for wind
> >projects throughout Australia and the Asia Pacific region," Mr
> >Harding said. The establishment of manufacturing in Portland, and the
> >successful development of the Portland wind farms will allow Pacific
> >Hydro to cost effectively develop other sites.
> >
> >Pacific Hydro is estimating that it will have at least 500 MW of wind
> >generation capacity in operation by 2005.
> >
> >For further information contact:
> >
> >Jeff Harding
> >or
> >Roy Adair
> >
> >Phone: 03 9620 4400
>
>
> --------------------------------------------------------------------------
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