Big batteries grab major share of new project additions

New data from research consultancy Rystad Energy shows that 21 new utility-scale solar, wind and energy storage projects representing 9.6 GW of capacity were added to Australia’s renewable energy development pipeline in July 2024.

Rystad renewables and power analyst Alokita Shukla said this was well down on the 28 GW of new capacity added in the month prior, but the slowdown did not reach the battery storage sector.

Utility batteries accounted for more than 60% of the new capacity added during the month with developers unveiling 6 GW of new projects spread across all six states, emphasising the growing importance of the technology in Australia’s energy transition, particularly as the share of renewables climbs towards the federal government’s 82% renewable target for 2030.

In addition to the battery projects, 1.7 GW of PV projects and 2 GW of onshore wind initiatives were announced.

Shukla said the new additions “highlight the continued investor interest in the Australian market, despite challenges in reaching the country’s ambitious renewable energy targets.”

Queensland led the way for new renewable energy projects in Australia in July with five new developments adding a combined capacity of 2.6 GW. This included 950 MW of PV and 440 MW of utility batteries.

Among the projects added are the 750 MW Rutherglen solar project being developed by Gryphon Energy, Edify Energy’s Callide Solar Power Station Project that is to incorporate a 200 MW solar farm and a 200 MW / 800 MWh battery, and the four-hour storage duration battery project being developed by BayWa r.e. at Wurdong Heights, near Gladstone.

Victoria was second behind Queensland as the state with the most capacity added with four new projects totaling 2.3 GW, followed by South Australia with 1.6 GW across just two projects.

British-owned energy company Pacific Green emerged as the leading developer in July with the addition of two major projects including the 1,000 MW / 2,500 MWh Portland Energy Park being progressed in Victoria and the 500 MW / 1,500 MWh Limestone Coast Battery Energy Park in South Australia.