For people interested in Mildura

Hi all

well for starters i don’t own in Mildura (what a pity). But over the past year on a number of occasions i’ve mentioned about the planned Solar Tower there and my guess is that Mildura will get some major benifit from the project. Anyway i saw this in this mornings news it may interest some of you. i should add i don’t own shares in Enviromission either, however the greeny in me says it is afantastic concept.

EnviroMission to move on solar power station
By Philip Hopkins
February 4, 2004

A pre-feasibility study has shown that a giant solar power station planned for Australia is financially and technically viable, according to the companies behind the project.

EnviroMission, which has the rights to the solar technology, and leading construction company Leighton Contractors Pty Ltd, said yesterday that with the pre-feasibility study completed, the project would move towards full commercial development.

EnviroMission chief executive Roger Davey said an independent third party would now undertake a detailed examination of the financial structuring of the project. An announcement would be made in the near future, said Mr Davey, a former broker at McIntosh Securities before it was taken over by Merrill Lynch.

EnviroMission, which listed in August 2001, aims to build a one-kilometre-high solar tower power station 25 kilometres north of Mildura in NSW. It would generate 200 megawatts of electricity, enough to power 200,000 households. The tower would include a surrounding “greenhouse skirt” of solar collector panels, seven kilometres wide. The electricity would be generated by 32 wind turbines driven by the mass of moving air under the huge transparent collector and the updraft effect created by the huge tower.

Estimates have placed the cost of the tower project from $800 million to $1 billion. EnviroMission has signed a memorandum of understanding with Australian Gas Light Company for AGL to take all the station’s electricity.

Mr Davey said the solar tower would earn money from energy generation, associated derivatives such as renewable energy certificates and carbon credits, and from naming rights for the tower.

The pre-feasibility study did not include income from tourism, agribusiness or telecommunications, he said. The tower would have a visitor’s centre and viewing platform, and horticulture could be undertaken under the edge of the giant collector.

EnviroMission shares finished unchanged yesterday at 18¢

regards westan

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