News

Broadwater and Condong cogeneration plants sold

The Broadwater sugar mill houses one of two biomass cogeneration plants being sold by Sunshine Electricity, a subsidiary of the NSW Sugar Milling Co-operative, because they have been a financial failure. The other is at the Condong mill on the Tweed.
The Broadwater sugar mill houses one of two biomass cogeneration plants being sold by Sunshine Electricity, a subsidiary of the NSW Sugar Milling Co-operative, because they have been a financial failure. The other is at the Condong mill on the Tweed.

THE NSW Sugar Milling Cooperative has sold cogeneration plants at Broadwater and Condong to Swiss based investment company Capital Dynamics for an undisclosed sum.

Following detailed negotiations, chief executive Chris Connors announced the sale today, saying no jobs will be lost.

"The settlement of the sale brought to fruition a key target in the Co-operative's business plan to ensure our sustainability going forward," he said.

NSW Sugar chairman Ian Causley said the sale of the plants was a positive outcome for the cooperative.

"It will ensure that a collaborative approach is taken to the development of the business whilst releasing all liabilities and risks that surrounded the cogeneration business from the Co-operative's perspective," he said.

After proving a financial failure, the plants, which use sugar cane waste to generate electricity, were put on sale in 2011 to repay loans used to pay for their construction.

Depending on fuel, Capital Dynamics plan to run the plants during the sugar cane off season targeting peak pricing periods from February through to April.
 

Topics:  nsw sugar milling cooperative sugar



Call for senior nominations

Nominate an older person who is making a positive difference to the Northern Rivers community for a 2017 NSW Seniors Local Achievement Award.

Northern Rivers seniors make a positive difference to the community

GALLERY: Police raid Nimbin shop

A man will face court today on alleged drug supply charges after a raid at a Nimbin shop

Police executed a search warrant at a store on Cullen Street

Busy year for busy bees restoring neglected duck pond

From left, Mark Bailey and Derek Goodwin of South Lismore Duck Pond Landcare with the Mayor of Lismore Isaac Smith.

South Lismore Duck Pond wins grant to continue much-needed work

Local Partners

Found: do you own these roads?

COUNCILLORS on the Northern Rivers have been embroiled in an unusual lost-and-found mystery that began at the pub.


Northern Rivers gig guide

PIRATE FLAG: The Hussy Hick's latest single is a crowd favourite that echoes a sentiment of political scepticism. Hear Pirate Flag at Tintenbar Upfront, Tintenbar Hall, tomorrow 7.30pm. $20.

What's on this week in local entertainment

Top 10 things to do this weekend

Reece Smith, Ernie Angelosanto and Shayne Smith will compete for the top of the leaderboard at this weekend's Jodie's Inspiration Golf Day.

Are you looking to get out and about over the next two days?

Teeing off to support Jodie's Inspiration

Reece Smith, Ernie Angelosanto and Shayne Smith will compete for the top of the leaderboard at this weekend's Jodie's Inspiration Golf Day.

Vie for the top of the leaderboard, if you dare

Un-American tale makes Lion weakest link in Oscars line-up

PSYCHOLOGY researchers find US films and actors most likely to win accolades at the Oscars.

Living End, Grinspoon stars hit stage for American Idiot

Chris Cheney of The Living End stars in the Australian production of Green Days musical American Idiot at Brisbane's QPAC Theatre.

TAKE a look behind the scenes of Green Day's American Idiot musical

Northern Rivers gig guide

PIRATE FLAG: The Hussy Hick's latest single is a crowd favourite that echoes a sentiment of political scepticism. Hear Pirate Flag at Tintenbar Upfront, Tintenbar Hall, tomorrow 7.30pm. $20.

What's on this week in local entertainment

Samuel L Jackson dismisses La La Land ahead of Oscars

Ryan Gosling and Emma Stone in a scene from the movie La La Land.

Hollywood actor and Oscars voter says Denzel should win top gong

Former Family Matters stare accused of child abuse

Reginald VelJohnson, left, and Darius McCrary arrive at the TV Land Awards on Sunday, April 19, 2009 in Universal City, Calif.

Darius McCrary has been accused of child abuse

The trick homeowners are using to buy more properties

Chantelle Subritzky leaves her home each week for Airbnb guests.

Queenslanders are going down this path to help pay their mortgages

Stunning home blends South Pacific beauty with Orient style

Immaculate residence with two outdoor living areas

$140k damage: landlord says property trashed, contaminated

He had what he calls "the tenants from hell"

Submarine, buses and 3000 tyres removed in $100K clean up

The list of things removed from this property is beyond astonishing

Ready to SELL your property?

Post Your Ad Here!