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IEA Perth Energy Kwiana 120MW Power Station
23 Jan 2009
Perth Energy progressed the development of its 120MW dual fuel power station on the Kwinana industrial strip south of Perth. The A$120 million plant is expected to be available for dispatch by June 2010. Final conditions precedent relating to the project have now been completed and construction work has started.
The cost of construction is fixed and funding is to be provided from a A$75 million debt facility provided by ANZ Bank and equity which is to be primarily provided by Infratil.
Infratil currently owns 77% of Perth Energy and this shareholding is expected to increase as additional equity is provided to fund the Kwinana project.
The plant is a “peaker” and will be eligible to create capacity credits. In the WA market retailers are required to purchase capacity credits approximately equal to their retail load so the new station will complement Perth Energy’s retailing operations.