Australia’s ANZIS, Michelago team up in wind power sector

17 June 2002 – Under a new co-operative agreement, Australia’s ANZ Infrastructure Services Ltd [ANZIS] and Michelago Ltd (ASX:MIC) will work together to identify wind power projects to be developed through ANZIS’s Wind Power Investment Trust.

Base metals group Michelago said in a statement that projects identified by the two companies so far have estimated capital costs in excess of A$500m ($278.25m).

Under the terms of the agreement, Michelago will supply its existing wind development rights and intellectual property into WPIT and receive two million units in the trust, at A$1.00 each.

Michelago’s projects complement ANZIS’s interests in the Tungketta Hill and Sheringa wind farms in South Australia that have the potential to deliver over 200MW of green energy into the national electricity market, the statement said.

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