Australia:

Pacific Hydro Slashes Jobs as Renewable Developments Halted (RenewEconomy)

One of the largest renewable energy developers in Australia, Pacific Hydro, is cutting staff numbers by as much as 25 per cent, including senior executives, as part of a major restructure of the company.

PacHydro, which is owned by Industry Funds Management and was once Australia’s leading developer of wind farms, is placing all of its $2 billion in Australian renewable energy developments on hold, partly because of the poor policy environment, and partly due to its own internal financial problems.

PacHydro currently holds geothermal exploration licences in the Great Artesian Basin (GAB), in South Australia, partnering with Australian geothermal exploration company GreenRock Energy to develop the GAB project and GreenRock Energy’s licences in the Mid West, in Western Australia, two hours north of Perth. The company envisioned power projects of at least 25 MW.

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