22 Apr 2005
ENE continues to progress commercial arrangements with Western Power, which will allow the West Kimberley Power Project to formally proceed. ENE's Managing Director, Mr. Chris Laurie acknowledged that finalisation had taken longer than expected, reflecting the broad scope of the project. Negotiations with the banking consortium and all material statutory planning and permitting processes covering the multiple operating sites are well advanced. Mr. Laurie noted that all key supplier arrangements had been largely settled and were ready for commitment, pending financial close. The PPA was executed in July 2004. While both Western Power and the Company each have the right to terminate the PPA, Mr Laurie noted that the parties are working co-operatively and expeditiously to bring the project to fruition.
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