Meridian Acquires Development Rights for Burdekin Falls Hydro Project in Queensland from Stanwell Corporation

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Researched by Industrial Info Resources Australia (Perth, Australia)--Stanwell Corporation Limited (Queensland, Australia) sold the 37-megawatt (MW) Burdekin Falls Hydro Project to Meridian Energy Limited (Wellington, New Zealand), giving Meridian an opportunity to strengthen its position in Australia. The project has been proposed for the Burdekin Falls Dam, Queensland's largest water storage facility, which is south of Townsville.

Meridian Energy acquired the development rights for the hydro power project for $1.5 million in July 2013, and the transition between Stanwell and Meridian is now being finalized.

Stanwell Corporation and water infrastructure developer SunWater (Queensland) performed studies for the Burdekin hydro project in 2004 and completed feasibility studies by the end of 2009. By the time the sale had happened, Stanwell had completed various studies and finished engineering and design for the project. Stanwell completed geotechnical investigations and energy generation modelling for the Burdekin project and provided Meridian with fully developed tender pricing for civil, mechanical and electrical works, including power line design, for the project.

Stanwell is finalizing the sale process, and the project will be completely removed from Stanwell's project books by end of the year. Meridian will determine the timelines and final design for the hydro projects, which already have completed several development processes and have local council and state government development approvals and permits. The exact construction timing for the project has not yet been determined.

According to the actual proposal, Burdekin will feature approximately three 12-MW turbines to produce enough power to supply to 9,500 homes each year. The project is estimated to have a capital cost of $150 million. Meridian Energy generates the largest portion of New Zealand's electricity by operating several windfarms and hydro plants all over New Zealand. Meridian Energy will develop the project through its Australian subsidiary company, Meridian Energy Australia Pty Limited (Melbourne, Australia).

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