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Origin Proposes PNG Hydro Project Supplying Australia

Origin Energy Ltd. agreed to study building a hydro project in Papua New Guinea that would feed into Australia’s national power grid and may help the country meet its carbon emissions reduction targets.

The 1,800 megawatt venture would cost “many billions of dollars,” Grant King, managing director of Australia’s second-biggest electricity and gas retailer, said on a conference call today. It may supply power to Queensland by as early as 2018, state Premier Anna Bligh said on the call.