ABN Newswire http://www.abnnewswire.net Mon, 20 May 2013 11:50:38 newsroom@abnnewswire.net newsroom@abnnewswire.net 60 <![CDATA[ Team Trev Powered By The Wind Of TrustPower Limited (NZE:TPW) ]]> en63340 Y http://www.abnnewswire.net/press/en/63340/ Tue, 20 July 2010 10:30:09 GMT Team Trev is a group of volunteers who will drive a small green electric car, Trev, around the world in the 2010 Zero Race.

A requirement of our participation in Zero Race is that we source 100% green power for our drive around the world. Being an electric car powered by renewable energy, our circumnavigation will effectively be emission free.

In reality, we will be charging from various electric grids along our circumnavigation route, and the energy we consume will be a mixture of coal, nuclear, hydroelectric, wind and solar generation. In effect we'll be consuming a mixture of renewable and non-renewable energy but offsetting that with 100% renewable energy.

Trev requires approximately 70 Wh/km, so a 30,000km trip will consume approximately 2100kWh (2.1MWh) of energy.

New Zealand based utility TrustPower Limited (NZE:TPW) (PINK:TRPWF) has kindly donated this amount of green power to Team Trev, in the form of Renewable Energy Certificates and a small cash donation. The energy will be sourced from TrustPower's 98.7MW Snowtown Wind Farm in South Australia. This wind farm consists of 2.1MW wind turbines, so the amount of energy required to drive Trev around the world is generated by a single turbine in just one hour (at full power).

Team Trev is very grateful for TrustPower for its contribution towards our Zero Race campaign.

About TrustPower Limited

Starting business in 1925, TrustPower has grown to be New Zealand's fourth largest electricity retailer, and fifth largest electricity generator.

In New Zealand, TrustPower owns 36 small to medium size Hydro Generating Stations and a large Wind Farm, with a further Wind Farm recently completed in South Australia. We produce electricity exclusively from renewable sources and our power stations produce enough electricity for around 220,000 Kiwi households!

With assets of over NZ$2 Billion, TrustPower is majority New Zealand owned and is listed on the New Zealand stock exchange.

For more information on the progress of Team Trev, please visit;
http://www.teamtrev.com

For more information on the Zero-Race, please visit;
http://www.zero-race.com

Media enquiries:
Heather Leggett
MOB: +61-450-587-732

Sponsorship enquiries:
Team Trev Director 
Andrew Dickson 
MOB: +61-418-866-470
EMAIL: andrewdickson2009@gmail.com

]]> newsroom@abnnewswire.net <![CDATA[ Green Investments Summit Indonesia 2010 - Indonesia In Need Of Clean Energy Developers And Investors ]]> en61873 Y http://www.abnnewswire.net/press/en/61873/ Thu, 3 Dec 2009 13:05:31 GMT Indonesia the archipelago of 17000 islands owes its modern existence to integration of access of electricity and the increasing gap in the country's end-user energy market is threatening to set the country in energy poverty in less than 25 years.

The government of Indonesia recognizes this and are doing a great deal in ensuring that 95% of its nation is warranted electricity access by 2035. Intrinsically, with the abundance of natural energy sources, renewable energy is made the key instrument in materializing this goal and has been made to contribute to 15% of the national energy mix by then.

The clean energy industry however is witnessing a growth too slow to meet its future economic potential. The lack of right strategy, organisation and administration are the major causes of this sluggishness and will set to inhibit its development if no action is being taken.

While there have been several regulations and policies in place, the government have yet to roll out a strategic roadmap that promotes private sector investments and that facilitates the commercialization of these technologies. The current policy structure favours fossil fuel developments resulting in the competition between the 2 sources of energy generation. The lack of a transparent and robust financial mechanism paralyzes the ability of project developers to cope with the large scale of investment required.

Suffice to say, if all these are tackled upon, Indonesia will be on the roll of creating great investment opportunities for international project developers. It is estimated that Indonesia's potential of renewable energy capacity from hydroelectric, geothermal and biomass energy alone reached more than 150 gigawatts (GW) annually.

Indonesia has the biggest geothermal resource potentials in Asia, estimated at 27,510 megawatts, but with a total capacity of 1,052 megawatts, less than 5 percent of this potential has been developed. In biomass it is estimated that the country produces 146.7 million tons of biomass per year which translates to 50,000MW of electricity and this vast potential has attracted Japan and China's interest to explore possibilities of investment into the sector. There are more than 1,300 potential locations for exploitation of hydroelectric generation spread across the country and recent discussions have been on strategies to connect the micro-hydro power to the national grid.

Indonesia sees a bright sky for the clean energy industry. In fact it is not merely a solution for the desperate energy situation Indonesia is in but is potentially a strategy for climate change mitigation, poverty alleviation and in the long run, socio-economic driver of the country. What the country needs on top of the government's commitment is the private investment capitals and international project development expertise.

In partnership with Indonesia Ministry of Energy and Mineral Resources and Ministry of Finance Indonesia, All Events Group is proud to launch Green Investments Summit Indonesia 2010 as Indonesia's foremost platform to provide foresights and strategies to accelerate Indonesia's clean energy transition.

The highly dynamic agenda aims to highlight viable business opportunities in the energy sector that have high abatement potential while enabling investors to sustain their long-term corporate assets and shareholder value. Bringing together key stakeholders such as government regulatories, policy makers, investors, fund managers, financiers, clean energy developers and professional consultants, the 2-day conference hopes to stimulate informed dialogue among stakeholders on the opportunities that will emerge from a move towards a resilient and sustained low carbon economy.

Green Investments Summit Indonesia 2010 will bring together a coalition of public-private expertise to address to -

- Sustainable legislative and regulatory structures for successful mobilization of the public and private sector to accelerate clean energy deployment

- Innovative incentive and finance mechanisms that promotes investments that alleviates the large scale of investments

- Clean energy technologies that provides viable economic and business opportunities with high abatement potential in Indonesia

- Post Copenhagen carbon market updates and CDM project potentials

- Key strategies to effectively achieve non-competing and holistic national energy mix

Leading the discussions are key industry leaders from The Ministry of Energy and Mineral Resources Indonesia, Ministry of Finance Indonesia, The UK Department of International Development, PT Sarana Multi Infrastruktur, DTIE - UNEP, FMO, Intel Capital, E+Co., GTZ, Japan Bank for International Corporation, Asia Green Capital, The Clinton Group, Middle East and Asia Capital Partners, New Energy Finance, REEEP and many more.

SPEAKERS

Dr. Darwin Zahedy Saleh, Minister, Ministry of Energy and Mineral Resources Indonesia (Invited)

Sri Mulyani Indrawati, Minister, Ministry of Finance Indonesia (Invited)

Deepak Natarajan, Director, Intel Capital

Jeffrey Dickinson, Managing Director, E+Co.

Emma Sri Martini, President Director, PT Sarana Multi Infrastruktur

Maaike Gobel, Director of South East Asia and the Pacific, REEEP

Dieter Brulez, Coordinator of the Priority Area Climate Change, GTZ

Takashi Hongo, Director General and Special Advisor, Japan Bank for International Corporation

James Vener, PE Project Manager, DTIE - UNEP

Jurgen Rigterink, Chief Investments Officer, FMO

Edgare Kerkwijk, Managing Director, Asia Green Capital

Dr. Andrew Wardell, Regional Director of the Clinton Climate Initiative-Forestry, The Clinton Group

Mumtaz Khan, Chief Executive Officer, Middle East and Asia Capital Partners

John Romankiewickz, Senior Analyst Carbon Markets, New Energy Finance

Matthias Rhein, Senior Investment Advisor, UK Department of International Development

For event updates, please log on to http://www.alleventsgroup.com/gisindo2010/

For more information, please contact:

Ms. Julie Pui
Marketing Manager | Green Investments Summit 2009 Indonesia
Tel: +65-6506-0951
Fax: +65-6749-7293
Email: julie.pui@alleventsgroup.com

]]> newsroom@abnnewswire.net <![CDATA[ China Power (HKG:2380) Acquires 63% Interest in Wu Ling Power And Becomes The Cleanest Overseas-listed Power Company In China With The Highest Portion Of Hydropower ]]> en60867 Y http://www.abnnewswire.net/press/en/60867/ Tue, 9 June 2009 13:47:49 GMT China Power International Development Limited ("China Power" or the "Company") (HKG:2380)(PINK:CPWIF) is pleased to announce its acquisition of 63% of equity interest in Wu Ling Power from China Power International Holding Limited (hereafter referred to as "CPI Holding", a wholly-owned subsidiary of China Power Investment Corporation, the ultimate controlling shareholder of the Company) at a consideration of RMB4,465,087,500 (subject to adjustment). The consideration of Acquisition is to be satisfied as to 70% thereof or RMB3,125,561,250 (subject to adjustment) by the issue of Consideration Shares of HK$2.408 each, while the remaining 30% thereof or RMB1,339,526,250 (subject to adjustment) will be settled by way of cash payment.

The acquisition was arrived at after length negotiations between the Company and CPI Holding, and based on various relevant factors including the market environment, operating conditions, profitability of Wu Ling Power and asset valuation carried out by an individual valuation firm. The board of directors is of the view that the terms of the acquisition are fair and reasonable, on normal commercial terms and in the interest of the Company and its shareholders as a whole.

The Chairman of the Board of directors of China Power, Ms Li Xiaolin, commented, "The Acquisition is crucial to the Company. Upon completion of the Acquisition, the Company shall become the 'cleanest' overseas-listed independent power producer with the highest portion of hydropower in the PRC. Meanwhile, the attributable installed capacity of the Company upon completion will immediately surge by approximately 25% by virtue of the size of the Acquisition. Enormous potentials and sharp competitive edges of the hydropower business are expected as we see supportive measures by the State policy. Good expertise in hydropower development and operation of Wu Ling Power will also help our development of clean energy. Moreover, the Acquisition will boost the market presence of the Company in the central region of China remarkably, in particular in Hunan Province, achieving a more balanced and favourable fuel mix by integrating our thermal and hydro power business.

Upon the completion of the Acquisition, the Company's attributable installed capacity will increase by approximately 2,245MW to 11,282MW from approximately 9,037MW as at 31 December 2008, representing an approximately 25% increase. Furthermore, the Acquisition presents a significant expansion potential to the Company. Currently, Wu Ling Group has 3 hydropower projects under construction with a total attributable capacity of approximately 1,504MW which are expected to be consecutively commissioned from 2009 onwards.

The Acquisition of 63% interest in Wu Ling Power will transform the Company from a predominantly coal-fired power generation company to a power generation company with a more balanced fuel mix and a more balanced asset portfolio. Following the Acquisition, the consolidated hydropower capacity will account for approximately 32% of the total consolidated capacity of the Company, the attributable hydropower capacity will account for approximately 19% of the total attributable capacity of the Company, which will greatly lessen the Company's reliance on coal.

At present, the Chinese government is actively promoting the development of clean energy and hydropower is by far China's most prevalent and most well-established type of clean energy. By the end of 2008, the total installed hydropower capacity in China was approximately 172GW. According to the plan of the National Development and Reform Commission, the capacity will reach 300GW in 2020. Currently, hydropower has been supported by various governments' policies, including priority in dispatch and preferential taxation policies.

Wu Ling Power is the largest independent hydropower producer in Hunan, with assets located in two adjacent provinces, Hunan and Guizhou. The total hydropower installed capacity of Wu Ling Power accounted for approximately 40% of Hunan's hydropower installed capacity as at 31 December 2008, thereby playing a pivotal role in Hunan's power market.

China Power International Development Limited
Investor Relations
Mr. Shou Rufeng / Ms. Zhao Huan
Tel: (852) 2802-3861 
Fax: (852) 2802-3922

Wonderful Sky Financial Group Limited
Mr. Terence Wong 
E-mail: terencewong@wsfg.hk

Mr. Ivan Kau
E-mail: ivankau@wsfg.hk

Ms. Gigi Chan
E-mail: gigichan@wsfg.hk

Tel: (852) 2851-1038
Fax: (852) 2815-1352

]]> newsroom@abnnewswire.net <![CDATA[ Australia's Geothermal Energy Rush With Six Companies Reporting Massive Energy Reserves And Govt. A$4.5Bn Clean Energy Initiative ]]> en60854 Y http://www.abnnewswire.net/press/en/60854/ Fri, 5 June 2009 10:37:14 GMT In the face of the current economic downturn, the Australian geothermal industry has experienced significant growth in the number of companies that have joined the search for "Hot-Rock Energy", fuelled by the rapidly increasing demand for renewable energy. In the nine months since the Australian geothermal industry launched the world's first Geothermal Reporting Code, six companies have reported massive geothermal energy reserves. In addition, earlier this week, the South Australian gold explorer Southern Gold (ASX:SAU) added to the tally with a significant resource at it's Torrens Geothermal Project in South Australia, and Hot Rock Limited (ASX:HRL) is expected to release its maiden resource in coming months.

In the May 2009 federal budget, the government announced a A$4.5 billion Clean Energy Initiative which involves investing heavily into renewable energy sources with the objective of reducing carbon emissions. Putting the politics of an emissions trading scheme aside, Australia remains the world's biggest carbon polluter on a per capita basis, contributing almost 1.5% of the world's total carbon emissions.

Geothermal energy is considered an ideal renewable energy, for its potentially attractive production costs over other renewable sources and because it is the only major renewable energy source that is capable of providing baseload power - that is non-stop power, 24 hours a day, rain, hail or shine.

Recently, Resource Minister Martin Ferguson told Reuters:

"Geothermal energy which is sometimes known as hot rocks has got a huge potential for Australia, both as a solution to climate change and in terms of national energy security."

Huge potential maybe, but how much energy are these hot rock explorers targeting? Well, according to Geoscience Australia's Anthony Budd, "One percent of reserves would produce 26,000 years of energy supplies". The actual Geoscience Australia report by Budd, Holgate, Gerner & Ayling goes on to say, "future drilling and extraction technologies will undoubtebly allow extraction of heat at depths greater than 5 km, meaning that the above figure is conservative".

Although there are about 50 geothermal exploration licence holders across Australia which have collectively committed to spending in excess of $1 billion on geothermal exploration and development, only 8 companies have declared geothermal resources since the launch of the Geothermal Code in August last year.

The reporting of geothermal resources in Australia needs to be compliant with the Australian Code for Reporting of Exploration Results, Geothermal Resources and Geothermal Reserves (2008 Edition), which outlines the methods for geothermal energy classification. The broadest category of energy is referred to as inferred resource, and the classifications of indicated, measured, probable and proven are used in cases of increasing geological and economic certainty.
Australian Geothermal Resources
----------------------------------------------------------
ASX    Company         Project     Geothermal    Category*
Code                              Resource*(PJ)
----------------------------------------------------------
GDY  Geodynamics     Innamincka &
     Ltd             Hunter Valley  244,680        various
GER  Greenearth      Geelong &
     Energy Ltd      Gippsland      263,600       inferred

GRK  Green Rock      Olympic
     Energy          Dam Region     120,000       inferred

PAX  Panax           Limestone
     Geothermal Ltd  Coast          332,000        various

PTR  Petratherm Ltd  Paralana       230,000       inferred

TEY  Torrens Energy  Parachilna     780,000       inferred

SAU  Southern        Torrens        TBA - 1st    
     Gold Ltd        Geothermal    week June'09  
                     Project                      inferred

HRL  Hot Rock Ltd    Penola    Trough Undisclosed  various
----------------------------------------------------------
* Resource Figures are Indicative Only. More information about Geothermal Resource categories can be obtained from:

http://www.pir.sa.gov.au/geothermal/ageg/geothermal_reporting_code

The geothermal energy resource estimates reported by this handful of predominantly South Australia focussed companies is simply mind-blowing. Between them, they have identified in excess of 2 million Petajoules of geothermal energy. Not all the geothermal energy identified will be recoverable due to complex geology, economics and the temperatures of source rocks. Geologists put the economically recoverable proportion of the heat at 15-20%. The energy expected to be recoverable is still massive. To put it into context, 1 Petajoule of recovered thermal energy is equivalent to 172,000 barrels of oil.

The magnitude of Australia's geothermal resources is expected to increase significantly in coming months, with numerous projects progressing with drill rigs and geophysical data acquisition. Assuming only 20% of the 2 million Petajoules of discovered geothermal energy is recoverable, that equals 400,000 Petajoules - one-thousand times Australia's total projected residential energy consumption for 2009!

"In the last 9-months, a handful of Australian Geothermal companies have discovered significant geothermal resources potentially sufficient to provide all of Australia's residential energy requirements for a thousand years."

With massive energy resources in place, it's no surprise the geothermal sector has attracted Australian energy majors including Origin Energy (ASX:ORG), AGL Energy (ASX:AGK), Stuart Petroleum (ASX:STU) and Beach Petroleum (ASX:BPT). Offshore investors include the Asian parent company of Australian electricity retailer TruEnergy (CLP Group) and India's largest power company, Tata Power.

Despite, the increasing interest in the geothermal sector the industry has not been immune to the widespread deterioration in capital markets. A benchmark used to measure the performance of the stockmarket listed geothermal companies, The Australian Geothermal IndexTM, has fallen 39% since the start of July last year.

Mr. Bahay Ozcakmak, Managing Director of Activated Logic is optimistic about the future of Australian geothermal energy production.

"Earlier this year, Geodynamics successfully conducted a closed loop test at its Innamincka project in South Australia's Cooper Basin project, where 50,000 tonnes of brine was circulated between two wells that were approximately 1km apart. Cool water down one end, hot water out the other. It works."

Mr Ozcamak also said that despite Australian listed geothermal companies trading at significant discounts compared to 2008 valuations, there is good reason for optimism in the sector.

"The valuations of the geothermal sector have fallen significantly in the past year, with the listed component of the geothermal sector now worth approximately A$450 million, similar to what the industry leader Geodynamics (ASX:GDY) was valued at a year ago.

However there is good reason for optimism in the sector. We are currently in discussions with a number of international energy utilities, investment firms and superannuation funds looking to use the current downturn in investment as an attractive time to enter the sector.

Only this week, Southern Gold announced a massive geothermal resource at its Torrens Geothermal Project. The Southern Gold story is interesting in that the two wells used to determine the geothermal resources of the project were initially drilled as mineral exploration holes by the company while exploring for copper, gold and uranium.

We expect Southern Gold's geothermal resources to grow further following deep drilling as this initial resource is from an exploration lease which covers only 5% of Southern Gold's geothermal assets to the southwest of Lake Torrens in South Australia. The project is located approximately 10-15km from the national power-grid linking Olympic Dam and Prominent Hill to South Australia's power infrastructure hub at Port Augusta. Proximity to major power distribution networks is essential in improving project economics."

About the Australian Geothermal Index (TM)

The Australian Geothermal Index (TM) (AGI) is the benchmark composite index of the 10 solely geothermal focused companies listed on the Australian Securities Exchange (ASX). The AGI was based at 100 using Laspeyre's PI methodology (as was the XAO) on the 1st of July 2008 to provide an indication of the relative performance of the AGI against the XAO.

^ The Australian Geothermal Index was developed by and is owned and managed by Activated Logic Pty Limited. More information is available at:

http://www.geothermalindex.org/agi.html

Ms. Naomi Keogh
Communications Director
Tel: +61-7-5561-7282
Email: naomik@activatedlogic.com

]]> newsroom@abnnewswire.net <![CDATA[ Australian Market Report of February 24: A New Low Likely ]]> en60184 Y http://www.abnnewswire.net/press/en/60184/ Tue, 24 Feb 2009 13:00:46 GMT US shares plunged to nearly a 12 years low with Dow sank 3.4 per cent. Investors restored some calm after news that the government could expand its stake in Citigroup. But the Obama administration also shows that it will avoid completely nationalising those troubled banks.

Yesterday the Australian market closed lower even it rebounded after news the US Government may end up owning as much as 40% of Citigroup's common stock. The benchmark S&P/ASX200 index ended down 1.5%, or 51.2 points, at 3351.2, while the broader All Ordinaries index shed 1.5%, or 48.9 points, at 3304.1. Today the local stocks are expected a fresh low level on the massive lost in Wall Street.

Key Economic Facts and Figures

Immigration Minister Chris Evans said Australia will cut its annual immigration intake for the first time in eight years due to the slowing economy and weaker labour demand. Evans also said the final number of immigrants to intake has yet to be determined.

The Housing Industry Association's National Outlook report showed Australia's housing commencements would see a 17 per cent decline for the fiscal 2008/09. HIA forecasts the number of housing starts to bottom out at 132,190, and the slowing condition to continue over the coming years as a result of a weak economy and higher unemployment.

M&A News

Futuris (ASX:FCL) is expected announce the sale of its remaining 8 per cent stake in Australian Agricultural Company after striking a deal to sell a 15 per cent stake to a United Arab Emirates-based food manufacturer at A$1.70 a share.

Nexus Energy (ASX:NXS) said its planned sale of its Crux liquids project has been delayed due to the global financial crisis and the requirement of companies who entered the sales process more recently.

Important Corporate News

BHP Billiton (ASX:BHP) said yesterday it would reduce the number of employees at its Melbourne head office to about 350, down from 600 previously. The company said most of the reduction was due to relocating roles rather than job cuts.

Gaming machine supplier Aristocrat Leisure (ASX:ALL) reported a 59% fall in annual profit to A$101.21 million for the year ended December 31, 2008. The company says it is in line with guidance and expects benefits in fiscal 2009 from new games.

Suncorp-Metway's (ASX:SUN) first half profit has declined by 32.8% due to higher bad debts and claims surged. Net profit for the six months ended December 31 was A$258 million, down from A$384 million in the previous corresponding period.

Fortescue Metals Group (ASX:FMG) confirmed it is seeking A$500 million capital raising from institutional investors to fund an expansion of its Pilbara iron ore operations.

Macquarie Airports (ASX:MAP) cancelled the A$1 billion share buyback as it plans to pay down debt in its 72 percent owned Sydney Airport.

Infrastructure fund Spark Infrastructure Group (ASX:SKI) posted a 83.4% fall in annual profit ended December 31 to A$9.45 million, down from A$56.93 million in the previous corresponding period.

Gold miner St Barbara Limited (ASX:SBM) reported today a net loss of A$41.22 million for the first half of fiscal 2009.

Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net

]]> newsroom@abnnewswire.net <![CDATA[ Asian Markets Overview of February 2 ]]> en60016 Y http://www.abnnewswire.net/press/en/60016/ Mon, 2 Feb 2009 15:00:02 GMT
Asia Economy Watch

South Korean exports in January dropped more than expected by a record 32.8 percent from a year earlier, official data showed on Monday, adding to economic gloom in the face of a deepening global recession. The Ministry of Knowledge Economy also said imports in January lost 32.1 percent over a year earlier.

Ministry of Finance of China revealed that the nation swung into deficit last year after a huge burst of government spending in the year's final weeks to combat the economic slowdown. Combined spending of central and local governments was 1.66 trillion yuan in December, up 30.8 per cent on a year earlier.

Company News

China Hydroelectric, a United States-based power company with assets on the mainland China, plans to raise as much as US$200 million from an initial public offering in Hong Kong, sources said.

Hyundai Kia Automotive Group said that January sales of Hyundai Motor Co.'s(SEO:005380) Chinese subsidiaries, Beijing Hyundai Motor Co. rose 35 percent from a year before to come in at 42,790 units, while that of Kia Motors' Corp.'s (SEO:000270) Chinese unit Dongfeng Yueda Kia Motor Co. increased 15 percent over the same period to be recorded at 17,607 units.

India's Suzlon Energy Ltd.(BOM:532667) posted a net loss in its fiscal third quarter, hurt by rising costs and a provision to conduct repair work at the wind-turbine maker's overseas plants. But Suzlon said it expects the industry's outlook to turn favorable by 2010 as easing credit and lower costs boost demand from the U.S., Europe, China and India.

Japan's Panasonic Corp(TYO:6752)(NYSE:PC) is likely to book a US$3.9 billion net loss in the business year ending in March on restructuring costs amid shrinking demand, a source said on Monday.

For the nine months ended Dec. 31, Japan's Mizuho Financial Group Inc. (TYO:8411)(NYSE:MFG) posted a consolidated net loss of 50.55 billion yen, a sharp deterioration from profit of 393 billion yen a year earlier.

South Korea's Posco (SEO:005490) said Monday it will cut steel production by about 200,000 metric tons in February to keep inventories low amid a slump in global demand.

NTT DoCoMo Inc. (TYO:9437)(NYSE:DCM) of Japan said its net profit fell 30% in its fiscal third quarter as revenue dropped on falling handset sales and weaker demand from corporate clients.

China's E-Commerce giant, Alibaba.com Ltd. (HKG:1688), plans to help small companies in China to secure more than CNY6 billion worth of loans from eight Chinese banks this year under its expanded loan-assistance scheme.

Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net

]]> newsroom@abnnewswire.net <![CDATA[ Torrens Energy Limited ASX: TEY - Port Augusta Hot Rocks Energy Thrust - Mr Chris Matthews, CEO ]]> en37222 Y http://www.abnnewswire.net/press/en/37222/ Mon, 25 June 2007 14:38:00 GMT
The BRR service is based on streaming audio sent in compressed form over the internet and displayed as it arrives. You do not have to wait for the whole file to be downloaded before you can hear it, instead the media is sent in a continuous stream and is played immediately as it reaches your computer. Please note that during live broadcasts there can be a delay of approximately 1-2 minutes, depending on traffic through your Internet Service Provider.

Broadcaster: Torrens Energy Limited (ASX: TEY)

Broadcast Title: Port Augusta Hot Rocks Energy Thrust

Broadcast Type: Audio stream

View the Audio stream for Torrens Energy Limited (ASX: TEY) below.

http://www.brr.com.au/event/TEY/2273/24730/wmp/203.84.229.42/?

PodCast Link:
http://boardroom-pc.streamguys.us/files/TEY/TEY20070625.mp3
]]> newsroom@abnnewswire.net <![CDATA[ Australian Gas Light Completes AU$1.4 Bil. Acquisition of Southern Hydro Assets ]]> en30904 Y http://www.abnnewswire.net/press/en/30904/ Wed, 30 Nov 2005 10:44:38 GMT
The assets consist of 11 hydro power stations located in Victoria and New South Wales and Australia's largest wind farm located at Wattle Point in South Australia. The total generating capacity of the portfolio is 736 megawatts (MW).

The hydro assets will form part of AGL's energy business under the recently announced proposal to demerge AGL into two new major listed businesses by separating the retail and merchant energy assets from the infrastructure assets. The Wattle Point Wind Farm, the largest in Australia, will be incorporated into the infrastructure business.

"AGL is focussed on integrating Southern Hydro into the existing retail and merchant energy business to optimise the benefits expected to AGL's overall wholesale energy portfolio," AGL Managing Director Mr Greg Martin said.

Mr Martin added that since the acquisition announcement on October 31, dam storage levels for the combined hydro assets of Victoria and New South Wales have increased by 5.8 per cent. This reinforced AGL's view that the Southern Hydro assets would return to the long-term average hydrology by 2009.1

"The AGL generation portfolio now comprises 1,700 MW of capacity, including over 600 MW of faststart- up peaking capacity, and positions the energy business for further growth," Mr Martin concluded.

Jane Counsel, Media Relations Manager
Direct: +61 2 9921 2352
Mobile: +61 416 275 273

]]> newsroom@abnnewswire.net