World’s largest renewables player granted retail license for Australia

The world’s largest private renewable energy player, Enel, which has 51 GW of renewable capacity installed worldwide, today announced it had been granted a retail energy licence from the Australian Energy Regulator. With this new authorisation, Enel says it will now offer its “greentailer” solution to Australia’s National Energy Market.

To do this, Italian giant – which will draw on its existing Australian arms: Enel Green Power Australia’s renewable generation assets, as well as spinoff Enel X’s technology platforms. The plan for the vertically integrated green energy retailer is continue in the commercial and industrial space, where it has already focussed much attention, saying it will offer up to 100% renewable energy supply at competitive costs.

It will begin approaching C&I customers from December, Enel said. Looking to its future, the company plans to expand into the residential segment as its renewable pipeline grows.

Building on established Australian operations

Enel Green Power Australia entered the Australian market in 2017 and currently holds 310 MW of combined capacity through three solar plants, including Bungala One and Two, which together have a capacity of 275 MW, as well as the 34 MW Cohuna Solar Farm in Victoria.

Operating in Australia for even longer though is Enel X, which has been talking to C&I energy users since 2011, forming its VPP from their existing assets — boilers, heat pumps, cooling systems, compressors, manufacturing lines and so on.

It now operates Australia’s largest VPP with more than 350 MW under management.

In October, Enel X declared itself the first registered provider for Australia’s new demand response market, which for the first time gave organisations the capacity to trade their flexible electricity loads on the wholesale electricity market.

Today’s announcement marks a new step for the Italy-based heavyweight taking it into the world of Australia energy retailers which has primarily been dominated by a handful of coal-reliant incumbents.

“Enel X customers are increasingly seeking renewable energy packages to help meet ESG objectives and emissions targets. As a vertically integrated retailer with wholly owned assets, and a global leader in demand response services through complementary digital technology platforms, Enel’s green retail offering will be unique in the marketplace. Leveraging Enel X’s platforms, customers can access new opportunities to decarbonise, digitalise and electrify their energy use,” Enel X’s Head of Asia Pacific Jeff Renaud said.