Silverton Wind Farm Sale

EPURON advises that it and its joint venture partner Macquarie Capital Wind Fund ("MCWF"), have entered into binding documentation relating to the sale of their respective interests in the Silverton Wind Farm to AGL. Subject to fulfilling customary conditions precedent, the sale is expected to be completed within weeks.

AGL is listed on the ASX, has been operating in Australia for 175 years and is Australia’s largest private owner, operator and developer of renewable generation assets.

The Silverton Wind Farm site is located approximately 25km north west of Broken Hill, New South Wales, and is one of Australia’s largest wind farm development sites with Project Approval for 282 turbines and Concept Approval for a further 316 turbines.

The sale represents the culmination of a successful development program which has established site viability and laid the groundwork for project completion through an extensive wind monitoring program, the securing of land arrangements for the wind farm site and progression through the development and environmental approval process.

Sale of the development site to AGL represents an exciting time for both the Broken Hill region and the state of New South Wales, through the advancement of what will be one of Australia’s leading renewable energy projects upon completion.

EPURON is supportive of the sale of Silverton to AGL with Executive Director Martin Poole saying:

“AGL’s acquisition of Silverton recognises the excellent work undertaken by EPURON and MCWF in developing the Silverton Wind Farm. AGL has expressed its commitment to the site and the development of renewable energy in the region.”

EPURON acknowledges the support of the pastoralists, local community and the NSW Government for the project to date, and looks forward to working together with AGL to ensure a smooth handover and a continuation of engagement with community stakeholders.

MEDIA RELEASE - Silverton Sale - 23Mar12.pdf