#[golflua](http://mniip.com/misc/conv/golflua/) 52 chars

    ~@h=0,46w(S.q("'%02d:%d0',",h/2,h%2*3))$w("'23:30'")

If I could figure out the edge case of 23:30 (with respect to the comma), I'd save quite a few characters.

An ungolfed Lua version would be

    for h=0,46 do
       print(string.format("'%02d:%d0',",h/2,h%2*3))
    end
    write("'23:30'")