Work on the 66 megawatt Cathedral Rocks wind farm near Port Lincoln in South Australia will begin immediately following the completion of financial arrangements. The project partners are Hydro Tasmania and EHN (Oceania), a subsidiary of Spanish power company Corporacion Energia Hidroelectrica de Navarra (EHN).Port Lincoln, South Australia – June 4, 2004 [SolarAccess.com] Work on the 66 megawatt Cathedral Rocks wind farm in South Australia will begin immediately following the completion of financial arrangements. The project partners are Hydro Tasmania and EHN (Oceania), a subsidiary of Spanish power company Corporacion Energia Hidroelectrica de Navarra (EHN). Hydro Tasmania Chief Executive Officer Geoff Willis and EHN’s Australian managing director Heinz Dahl said completion of the finance arrangements and other project agreements put in place would enable construction of what will be one of the largest wind farms in southern Australia to begin next week. Hydro Tasmania said based on their experience at their wind farm at Woolnorth in North-West Tasmania, construction of the Cathedral Rocks wind farm will be completed within 12 months, and will begin generating renewable energy into the electricity grid early next year. The financing to build the Cathedral Rocks Wind Farm has been arranged with the National Australia Bank. Structure for the construction and management of the wind farm has also been agreed with a separate joint venture company being set up to build and operate the wind farm. The value of the project will be in the order of AUD$120 million. The electric utility TXU has agreed to a 10-year purchase for all of the renewable energy generated from the Cathedral Rocks wind farm. Vestas, one of Denmark’s major wind turbine manufacturers, will supply the 33, two-MW turbines from its Tasmanian factory. Willis and Dahl said the viability of the wind farm at Cathedral Rocks was a direct result of the federal government’s Mandatory Renewable Energy Target scheme (MRET). The District Council of Lower Eyre Peninsula approved the development in August 2003 and a connection agreement to get the electricity to market was signed with Electranet in November 2003. Hydro Tasmania produces over 60 percent of Australia’s renewable energy from wind and hydro power. EHN said they are the largest installer and operator of wind farms in the world. It has renewable energy facilities in Spain, France and Germany with new establishments due to come on stream shortly in both Canada and the United States. Hydro Tasmania formed the partnership with EHN in February 2004 to facilitate the Cathedral Rocks wind farm development.