Pacific Hydro named Best Project Developer Asia Pacific 2011
Leading renewable energy company Pacific Hydro has been named ‘Best Project Developer – Asia Pacific’ for the second year in a row in the 12th annual market survey promoted by Environmental Finance and Carbon Finance - two of the leading global publications covering environmental markets.
The survey – the most closely watched poll of sentiment across carbon, renewable energy, weather risk and US emissions markets – reveals those companies that their clients, peers and competitors have judged to have provided the best service over the previous twelve months. More than 1,000 votes were received from readers of the two publications and from others active in environmental trading and finance.
Pacific Hydro CEO Rob Grant said that the survey results are a testament of the excellent work the company has undertaken in the region in 2011.
“It is fantastic to be recognised by our industry peers and competitors for the work we’ve done in 2011,” said Mr Grant. “As an Australian company, we’ve been actively calling for action on climate change and for Australia to lead the way in the region with the implementation of a price on carbon for over ten years.”
“Pacific Hydro is poised to develop around $2 billion worth of projects in Australia and this new legislation gives us and our investors more certainty to proceed with the development of new renewable energy projects.”
Pacific Hydro was selected in 2011, through the Australian Government’s Solar Flagships program, to build Australia’s largest solar photovoltaic plant as part of the Moree Solar Farm consortium with partners Fotowatio Renewable Ventures and BP Solar.
The Moree Solar Farm project is Pacific Hydro’s first venture into solar photovoltaic power generation. Based in Moree, New South Wales, the project is set to be Australia’s first utility-scale solar PV generation facility. Its proposed installed capacity is 150 MW, which is enough clean electricity to supply over 45,000 homes annually.
“The Moree Solar Farm project is an important step for Pacific Hydro towards technology diversification and we are looking forward to develop this project further in 2012, “ said Mr Grant. “However, we are actively developing other projects in our three core markets, so our expectations in the long term are very positive,” said Mr Grant.
Pacific Hydro has a development pipeline of over 2,000 MW across wind, hydro, solar and geothermal projects in Australia, Brazil and Chile. The company is a wholly owned subsidiary of the Industry Funds Management (IFM) Australian Infrastructure Fund.
IFM is an investment management company specialising in the management of investment products across private equity, infrastructure, debt and listed equities portfolios, and is wholly owned, through Industry Super Holdings Pty Ltd, by a large number ofAustralian superannuation funds.