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16 April 2004 - New Zealand's Hydro energy company Southern Hydro Pty Ltd said it plans to build and operate a 12.2 MW hydro-electric facility at Dartmouth in north-eastern Victoria, Australia.
The Victorian-based company, a wholly-owned subsidiary of New Zealand company, Meridian Energy Ltd, said the Banimboola power station would cost around A$25m ($18.45m) to establish.
A turnkey construction contract with the General Electric hydro engineering firm, GE Hydro, and a civil engineering subcontract with Baulderstone Hornibrook will provide for the plant's construction, Southern Hydro said.
"Without the Federal Government's Mandatory Renewable Energy Target (MRET) scheme, Banimboola, and many similar value adding projects in regional Australia, would not have been able to be pursued," Southern Hydro's chief executive Simon Maher said in a statement.
"It is vital for the Federal Government to strengthen MRET to create a more diverse, secure and environmentally sustainable energy industry."
Southern Hydro said it owns and operates 600 MW of renewable hydro-electric facilities, mainly in rural Victoria and NSW.
Hydro-electric power harnesses falling water to spin a shaft connected to an electric generator in order to create electricity.
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