You are here
AusNet invests A$140m to build transmission lines for Victoria wind farm
AUSNET Services announced it will invest some A$140 million (S$141 million) in construction after being contracted to build a 70 kilometre, 132kV (kilovolt) power transmission line in the Australian state of Victoria.
AusNet, partly owned by Singapore Power, has been contracted by the Australian Energy Market Authority (AEMO) and Goldwind Australia to build the transmission line from the 149-turbine, 530 MW (megawatt) Stockyard Hill Wind Farm to a terminal station located in Haunted Gully, outside the town of Lismore, Victoria.
The construction is scheduled to begin in July 2018 and is expected to be completed towards the tail end of 2019.
Under the contract, AusNet Services will receive long-term fixed entitlements - adjusted annually for movements in CPI - for providing connection and network services.
AusNet Services' managing director Nino Ficca said AusNet Services is "proud to partner" Goldwind - a wholly owned subsidiary of wind turbine and energy firm Xinjiang Goldwind Science & Technology - on this project, adding "the transmission development represents a further step in our strategy to prudently grow" the company's contracted asset base.
AusNet Services is the largest diversified energy network business in Victoria, and owns and operates three regulated networks - electricity distribution, gas distribution and the state-wide electricity transmission network.
Its counter closed at S$1.67 apiece on Wednesday, down 0.6 per cent or S$0.01.