Having executed some 400 MW of PV power plants, Wirsol claims to have a project pipeline of around 500 MW to be constructed in 2018. On the back of these figures, the German project developer claims to have leading market share in the utility scale segment in Australia.
The reported market share is based on data published by Sustainable Energy Research Analytics (SERA). It was announced yesterday that SERA had been acquired by oil and gas consulting and market intelligence firm Rystad Energy.
Digging into the detail, Wirsol has executed 399 MW of utility scale solar in Australia, of which is has an equity stake 389 MW. It has an additional pipeline of 470 MW under option, that it reports is “in late stage development and are expected to be ready for construction mid 2018.” The pipeline is being developed by Renew Estates Pty Ltd, which itself was co-founded the funded by Wirsol’s Australian subsidiary.
“We have been able to position ourselves well in the Australian market in a short time,” said Wirsol Managing Director Peter Vest, in a statement released in German. “Particularly important: From 2018 our pipeline will be fully developed through our joint venture with our Australian partner Renew Estate. As a result, we can act independently of local developers in the long term.”
Vest added that through the JV with Renew Estate, the company would be looking to integrate large scale battery storage to some of its PV projects right at the outset.
SERA Analytics figures show that Wirsol will have executed 19.43% of Australian projects currently under construction, and will own and operate 11.91% of the country’s PV power plant fleet by the end of 2018.
The company, which is headquartered in Germany’s southwest, currently employs six staff in Australia, and is looking to add another four to that by the end of year.
Wirsol hopes to execute at least 1 GW of projects in Australia by 2020. It entered the market in March 2017. Its Australian subsidiary is Wirsol Energy Pty Ltd.