The "conditions precedent" that was not satisfied concerned the other owner of the wind farm (Griffin Energy) not providing consent for the Queensland Govt to sell its 50% stake in the wind farm.
see http://www.getfarming.com.au/pages/farming/news_view.php?nId=8120011&cId=1
Emu Downs wind farm sale Article Date:01/12/08
Court hands down decision on Emu Downs wind farm sale
The Queensland Government is considering all its options, following an adverse ruling regarding the proposed sale of the Emu Downs Wind Farm to Transfield Services Infrastructure in the Supreme Court of Western Australia.
Emu Downs is jointly-owned by Stanwell Corporation (a Government Owned Corporation) and Griffin Energy.
The Government had attempted to progress the $127 million sale of Stanwell Corporation's 50% share in Emu Downs and other development projects to Transfield. Griffin Energy denied consent to the change of control.
"When the change of control was denied by Griffin, the Government applied for a declaration that Griffin had unreasonably withheld consent. This application was rejected by the Supreme Court of Western Australia," Treasurer Andrew Fraser said.
"We will analyse the Supreme Court's decision and assess what further steps the Government may take.
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