Roaring 40s Pty Ltd is a renewable energy business, based in Hobart, Tasmania, with a portfolio of wind farm projects in Australia and overseas.

Originally established as Hydro Tasmania’s development arm to pursue new renewable energy projects, the group became a joint venture between Hydro Tasmania and CLP Power Asia in September 2005. By linking Hydro Tasmania’s renewables development team with CLP Power Asia’s renewables development aspirations and market position in Asia, Roaring 40s is able to progress towards its vision of being the leading renewable energy business in Asia and Oceania.

In a relatively short period of time, Roaring 40s has successfully established a business framework and has broadened its renewable energy activities.

Roaring 40s has developed a wind farm portfolio with approximately 255 MW currently in operation or under construction. The table overleaf summarises the Roaring 40s portfolio.

In 2004, the Commonwealth Government decided not to extend the Mandatory Renewable Energy Target, effectively capping wind farm development in Australia. As a result, Roaring 40s halted activities on the Heemskirk Wind Farm and the Waterloo Wind Farm, and the current outlook for the Musselroe Wind Farm is uncertain. Renewable energy industry associations and Roaring 40s are currently involved in discussions with government to explore the potential for new policy initiatives to regain momentum in the industry.

Markets in other countries, however, are more encouraging and New Zealand, China and India have been selected as priority markets. Other countries of potential interest include Thailand, Taiwan and South Korea. In 2005/2006, Roaring 40s established offices in Hong Kong and Beijing, with offices in Mumbai and New Zealand expected to be established in the near future.

During the year, safety and environmental incidents occurred in Tasmania. An accident during construction works at Woolnorth Studland Bay Wind Farm in December 2005 saw two subcontractors seriously injured. Following investigations, remediation actions are being put in place in conjunction with Workplace Standards Tasmania.

Woolnorth Bluff Point Wind Farm recorded 25 bird and 10 bat strikes, including two wedge-tailed eagles. Mitigation measures are in place to help protect orange-bellied parrots and wedge-tailed eagles. Discussions with relevant regulatory authorities are taking place regarding the increased wedge-tailed eagle strikes.

Roaring 40s is addressing additional business risks, particularly in relation to staff working overseas and environmental assessments. Its environmental management system is certified to ISO14001.