Projects need support: MP
Investec Bank’s withdrawal from the planned solar power station at the Mungari Industrial Estate is a “missed opportunity” for the region, according to local stakeholders.
The investment bank this week confirmed it would not be proceeding with the proposed $200 million project following the closure of its Australian power development operations, leaving the 50MW photovoltaic power station with an uncertain future.
Although Investec has said it will look to partner or sell the project to third parties in the future, it remains unclear whether this will lead to further development of the site.
It is also unclear what impact the decision will have on the data centre proposed for the site by Australian company Datacenter Limited. A spokesperson for the company could not be reached for comment yesterday.
Although it was not flagged by Investec, the Department of State Development was criticised for its negotiation with Datacenter and Investec over the provision of conditional leases for the Mungari site.
Kalgoorlie MLA Wendy Duncan said she saw the news as supporting the need for greater co-operation from the State Government in getting major projects off the ground.
