Hydro Tasmania is well placed to address the risks identified in its 2016 Asset Management Plan and continue expanding its hydropower capacity.

The company’s Chief Operating Officer, Evangelista Albertini, said hydropower is a vital advantage for Tasmania, and will remain the cornerstone of Hydro Tasmania’s operations.

“Our hydropower future is robust and secure,” Mr Albertini said.

“Like all asset management strategies, our plan simply identifies future risks and sets out a plan for addressing them.

“We’re boosting investment in hydropower assets by 10 per cent and expect to comfortably address the identified risks.

“We also don’t expect material delays in addressing asset issues. Again, the plan simply identifies risks that would eventuate if adequate planning and investment did not take place.

“Our generation assets have been significantly tested by recent bushfires, record low inflows and floods, and performed exceptionally well. Both our people and our assets have shown outstanding strength and resilience in meeting recent challenges,” he said.

Hydro Tasmania’s asset management strategies and processes are subject to independent expert oversight.

Hydro Tasmania is projected to return to profit next financial year. In 2015–16, the company spent more than $75 million on capital projects to keep hydro generation assets operating safely and reliably.

Capital works in 2015–16 included machine refurbishments at Cethana Power Station and machine upgrades at Meadowbank Power Station.

In 2016–17, major refurbishment is planned for Tungatinah, Cluny, Wayatinah and Liapootah hydropower stations. Planning and preparation is well advanced.

Ends.

Released for Hydro Tasmania by Rowan Dix, (03) 62305330 / 0409 722359 / media@hydro.com.au.