Inifigen Energy says it has delayed but not abandoned its planned Woakwine wind farm in the south-east of South Australia.
Construction will not start for now because of an oversupply of renewable energy certificates and depressed electricity prices, the company says.
The proposed wind farm near Millicent would have 150 wind turbines and an expected capacity of about 450 megawatts.
The company’s investor relations manager, Richie Farrell, says it will keep the project on hold until an expected market turnaround in 12-18 months.
“There’s a significant demand for new wind farm and renewable energy investment in Australia with the renewable energy targets, so the Government has a target of 20 per cent by 2020 and that’s going to involve building approximately six times the amount of capacity that’s currently installed in Australia,” he said.
“We continue to invest in all of our development pipelines to ensure that we’re ready to commit to it the minute the price signals return to the market, so it’s all about being ready to be an early mover once the market signals return.”
