Boco Rock Windfarm in Australia Awaits Final Investment Decision

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Researched by Industrial Info Resources Australia (Perth, Australia)--Wind Prospect Group Limited's (Christies Beach, Australia) proposed Boco Rock Windfarm is in the final phases of its investment decision, which is expected to be made by end of 2013. In 2009, Wind Prospect Group formed a joint venture with Continental Wind U.K. (London, England) to develop the windfarm project.

The initial development approval for the project was granted in 2010 by the New South Wales government, which was followed by approval from the Australian federal government in the same year.

The proposed Boco Rock Windfarm is located 10 kilometres (km) southwest of Nimmitabel, and 30 km north of Bombala, in New South Wales, Australia.

Wind Prospect received planning approvals to install 122 turbines on the site, which will be installed in two phases. Phase I will consist of 67 turbines that will produce 134 megawatts (MW) of electricity. Phase II will begin construction upon completion of Phase I. According to the project manager, Edward Mounsey, the windfarm construction will kick off subject to the final capital approvals.

Continental Wind Partners and Wind Prospect reportedly have been looking for a stakeholder in the windfarm since October 2012.

Many speculations regarding the project's ownership have been highlighted in recent media. According to The Wall Street Journal Report, as well as few other sources, a Thai electricity provider is on the shortlist and is keen to participate in the auction to buy the windfarm stake.

The proponent companies building the windfarm are ready to sell 50% to 100% of their stake in the project, in which the first phase will cost nearly $350 million.

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