AGL (Australian Gas Light Company) will build Australia's largest hydropower electric plant in 25 yrs.
Largest energy retailer of Australia is all set to develop nation's biggest power plant in twenty-five years in the Alpine region of Victoria. The $ 230 million plant, expected to open by Oct' 2009 will provide additional peaking capacity to generate electricity and will increase the quantity of 'zero-emission electricity', according to the company.
The decision to develop this plant was followed by Victorian Government's recent Renewable Energy Target Certificate scheme (VRET) that forces energy retailers to draw 10% (or more) of the electric power from the renewable sources of energy by 2016.
Paul Anthony, chief executive of AGL showed his full support for Victorian Govt's initiative to develop renewable energy sector in Victoria. He said, the 140 MW plant would run only when the demand is at peak and the plant would provide strategic advantages to AGL & its quick startup feature will help to provide electricity at peak demand times.
"As non-renewable sources of energy continue to decline, the need to harness renewable sources of energy like sun & water increases. This initiative by AGL & Victorian govt. is much needed step for the development of renewable sources of energy," said an analyst at RNCOS.
The plant, to be opened at Bogong, is expected to generate electricity that will be sufficient for around 122,000 homes & will reduce emissions of greenhouse gases by 185,000 tons.
Toshiba International & McConnell Dowell Constructors have been appointed for the project. The new hydropower plant will increase the hydropower component of total power business of AGL by 5 % and the firm said that now nearly half of its portfolio generate zero-emissions.
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