Virgin Australia this week updated its financial guidance for the financial year ended June 30, 2013. The airline cited the carbon tax among other factors that have contributed to the company’s anticipated losses. The company confirmed that the pre-tax costs of the carbon tax for the 2013 financial year were estimated to be between AUD $45 million and AUD $50 million.
The Australian government plans to build the world’s largest solar power station, a 1,000-megawatt plant that would generate three times as much electricity as the world’s largest solar electric plant, now located in California, Prime Minister Kevin Rudd announced.
Preliminary plans call for the construction of four individual plants — two solar thermal plants that use mirrors to focus the sun’s heat on steam-generating pipes or towers and two plants that use photovoltaic cells. Over all, the proposed facility would cost about U.S. $1 billion, Rudd said, and would generate electricity equivalent to a large coal-fired power plant.