20/10/2009 - 10:44

Eneabba boost from Synergy decision

20/10/2009 - 10:44

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Synergy's recent decision to award energy supply contracts to Verve Energy has only strengthened Eneabba Gas' position to provide power in the Mid West region, the company claims.

Eneabba boost from Synergy decision

Synergy's recent decision to award energy supply contracts to Verve Energy has only strengthened Eneabba Gas' position to provide power in the Mid West region, the company claims.

In a statement today, Eneabba said it is the only company in the Mid West that can claim it has full government approvals for construction of its 168 megawatt gas-fired Centauri 1 power station as well as a fuel source.

"The company also strongly believes the recent announcements regarding the allocation of energy contract by Synergy confirm the inability of others to demonstrate the ability to have project readiness in the Mid West region," Eneabba said.

Last week, Synergy awarded Verve a contract to supply at least 638MW of power under its 2008 power procurement tender, and named Verve as its preferred tendered for further electricity supplies from its existing generators.

The decision has forced Aviva Corporation to review the future of its proposed $1 billion Coolimba power station in the Mid West.

Eneabba also announced today that it has had its Environmental Protection Authority works approval for Centauri 1 extended until December 20 2012.

"The full works approval has been granted without any other amendments except the revised date, which confirms Eneabba Gas' planning for environmental delivery criteria has been again endorsed by the EPA," it said.

Shares in Eneabba were down one cent to 30c at 13:22 AEDT.

 

The announcement is below:

 

WA-based energy company Eneabba Gas Limited (ASX: ENB) (or "Eneabba Gas" or "the Company") has had its Environmental Protection Authority (EPA) Works Approval: W4301 / 2006 / 0: for the Centauri 1 Power Station extended until 20 December 2012.

The full Works Approval has been granted without any other amendments except the revised date, which confirms Eneabba Gas' planning for environmental delivery criteria has been again endorsed by the EPA.

Eneabba Gas is focused on the development of the 168MW gas-fired Centauri 1 Power Station on Company-owned land near Dongara in the Mid West of Western Australia. Eneabba Gas proposes to market power from Centauri 1 to the fast growing Mid West region of Western Australia.

In the past twelve months the Company has stepped up its activities regarding the development of the Centauri 1 power station and to date is the ONLY energy company in the region to receive the various Government approvals needed for the rapid development of this vital piece of infrastructure, including Planning Approval from the Shire of Irwin, Environmental Protection Authority (EPA) and Department of Industry and Resources (DoIR).

These above activities have at all times centered on the objective of becoming the leading supplier of cost effective, low carbon emission, "clean" energy to companies and organisations wishing to develop major mining and industrial projects in Western Australia's rapidly developing Mid West region, not limited to but likely to include a range of iron ore mining companies developing projects in the region.

The Company strongly believes the recent announcements regarding the allocation of energy contracts by Synergy confirm the inability of others to demonstrate the ability to have project readiness in the Mid West Region.

Eneabba Gas is the ONLY Company in the Mid West that can claim complete ability of full government approvals for construction as well as a fuel source (see ASX 24 September 2009).

The project also has significant infrastructure advantages, with the following infrastructure surrounding this significant potential energy resource
- Main highway Brand Highway & Midlands Highway as our property boundaries
- Gas Dampier Bunbury Natural Gas Pipeline access as the Parmelia pipeline runs through freehold land of ENB
- Rail 250 metres from our property boundary
- Power within 18 kms of the 132 kV line
- Port Geraldton Port 65 kms, proposed Oakajee deep water port 85 kms

Eneabba Gas Limited is a Greenhouse Challenge Plus Member, which means that in addition to the strong technical and economic credentials of the Centuri-1 Power Station the Company has also focussed on ensuring the Centauri 1 power station will be a 'carbon neutral' site. This will be done through the conservation of some 3,000 acres of remnant bush, which has been confirmed by the Greenhouse Office to offset some 30.5 MW equivalents of carbon credits.


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