Message #578 From:
TheMachine Date: February 24, 2008 05:03:18 PM
TRUenergy in $290m solar power play
February 25, 2008 - 9:41AM
TRUenergy,
an Australian electricity and gas supplier owned by Hong Kong's CLP
Holdings Ltd., signed a $290 million agreement to develop a solar power
plant to tap rising demand for renewable energy.
TRUenergy paid $40 million for a 20 percent stake in Solar
Systems, a closely held company seeking to develop a 154-megawatt plant
in Victoria state, Richard McIndoe, managing director of the
Melbourne-based company said today.
It will also contribute $7 million to develop a 2-megawatt pilot
plant, and as much as $285 million to build the remaining stages of the
project, he said.
