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NSW Government launches sale process for renewable energy assets

10 December 2013
NSW Treasurer Mike Baird today launched a formal transaction process for Green State Power’s renewable energy assets, to unlock funds for critical infrastructure across NSW.
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Mr Baird called for Expressions of Interest for the assets, which include the Hume, Burrinjuck and Keepit hydro generators, the Blayney wind farm, and Green State Power’s interest in the Crookwell wind farm.

The package of renewables also includes 1,634 hectares of Mallee trees to be registered with the Clean Energy Regulator for carbon storage.

The NSW Government established Green State Power in June 2013 to operate the State’s renewable assets, which were formerly owned by State-owned Eraring Energy. Eraring Energy was sold to Origin Energy in August 2013.

The package of renewables has a combined output of 105 megawatts, with long-term contracts in place for a proportion of the output.

“The wind and hydro generators are high quality and well-maintained assets with proven capacity and a strong operational history,” said Mr Baird.

“While relatively small in terms of output, these renewable assets are strategically important in ensuring a diverse and clean supply of energy in the National Electricity Market.”

Mr Baird said the sale of Green State Power was part of the NSW Government’s broader energy reforms aimed at improving competitiveness and reliability in the sector.

“The transaction process for Green State Power follows the successful sale of Delta Electricity’s western power stations and Eraring Energy earlier in the year,” Mr Baird said.

“The sale also forms part of the government’s strategy to raise funds for vital infrastructure projects right around the state.”

Mr Baird said the proceeds from the sale would be invested in the NSW Government’s infrastructure fund, Restart NSW, with 30 per cent of funds reserved for projects in regional areas. Parties interested in receiving a copy of the Government’s Request for Expressions of Interest document should contact the Government’s Financial Adviser.

The deadline for lodging expressions of interest is 10am on Tuesday, 28 January 2014 (Australian Eastern Daylight Time).

The sale process for Macquarie Generation is still underway and is expected to conclude in the first quarter of 2014.

The Government expects to launch the sale process for Delta Electricity’s Central Coast power stations shortly.

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