The grant, which is subject to successful offer negotiations, was announced by Federal Minister for Resources and Energy Martin Ferguson.

Following successful negations, the grant would fund a 50/50 joint venture between CBD Energy and Hydro Tasmania called the Integrated Energy Solution, which involves a Wind Expansion and Carbon Block Project on King Island.

CBD Energy’s Managing Director Gerry McGowan said “This is an exciting project to be associated with; CBD and Hydro Tasmania have been working together on this project for many years (and) it is gratifying to see this support from the Federal and Tasmanian Government.”