Taurus Energy today welcomes NSW Premier Iemma’s announcement of a new renewable energy target for NSW.

The target requires renewable energy to provide 15% of energy consumption by 2020.This is equivalent to around 2,300 Megawatts of wind power in NSW.Importantly, interim targets commence in 2008 and require 10% renewable energy by 2010.This will create an immediate demand for new renewable energy projects. 

“This is an excellent outcome for NSW; for the renewable energy industry; for the economy; and for farmers battling with the effects of climate change.” said Executive Director of Taurus Energy, Martin Poole.

“Taurus Energy intends to make a strong contribution towards the target in NSW through its Snowy Plains, Cullerin Range, and Conroy’s Gap wind farm projects.” said Mr Poole. 

The legislation for this target will be introduced into parliament after the March 2007 state election.The intentions of the NSW Labour government are now clear and provide a strong basis on which to finalise our renewable energy projects.

“This target not only allows Taurus to commit to its existing projects, it also provides a platform to continue to build a strong project pipeline in NSW” said director Andrew Durran. 

“This provides potential for long term investment in rural NSW, providing jobs, investment, and economic growth in areas hardest hit by climate change” said Mr Durran.

The target also increases pressure on the Federal Government, whose own efforts to promote renewable energy and fight climate change pale when compared with the New South Wales and Victorian government initiatives. 

Taurus Energy’s proposed wind farms in NSW include Snowy Plains (30km north-west of Berridale), Conroy’s Gap (17km west of Yass) and Cullerin Range (12km east of Gunning). In a typical year, each of the three proposed wind farms would generate enough green electricity to match the consumption of about 10,000 average homes with pollution free renewable energy. 

Taurus Energy has received development consent for the Snowy Plains wind farm.The outcomes of planning applications for the Conroy’s Gap and Cullerin Range wind farms are expected to be determined by the Planning Minister before Christmas.

Taurus Energy will now focus on bringing existing sites into operation by 2008 and expanding the pipeline of potential future sites.