After demand under the share placement significantly exceeded the company’s capacity, the Sydney-based developer has decided to undertake an additional share purchase plan to secure funding for the development of its 50 MW/75 MWh Como battery project in central Queensland.
COVID-19 has enhanced the conviction that Australia will benefit from advanced manufacturing and sovereign supply. Homegrown battery manufacturer Energy Renaissance is poised to drive home that advantage.
Neoen’s Hornsdale Power Reserve has gone to work in the first half of 2020, virtually tripling the French renewables developer’s storage revenue on comparative 2019 levels. However, this growth was largely caused by a one-off event, and a slower Q2 highlights the need for FCAS policy renewal. Neoen’s Australian solar revenues could also achieve little more than consistency thanks to poor conditions.
If it was designed with a focus on reliability, security and the lowest cost for consumers, Australia’s main electricity grid would see periods in which nearly 90% of demand is met by renewable generation. A diverse portfolio of distributed energy resources and large-scale solar and wind generation supported mainly by pumped hydro and batteries would ensure the least-cost transition as the nation’s coal plants retire. Adequate investment in transmission infrastructure will be instrumental in making this a reality.
The 182.5 MW/730 MWh Moss Landing energy storage system could eventually be expanded to 1.1 GWh – putting it on track to overshadow Tesla’s massive Hornsdale project in Australia.
The Australian federal government is fast-tracking the world’s biggest solar and storage project in the sun-drenched Tennant Creek region that aims to power Darwin and export solar from the outback to Singapore and eventually Indonesia via a submarine transmission link.
The New South Wales town of Parkes, famous for its involvement in the Apollo 11 Moon landing, is set to play a part in another scientific wonder, the transition to renewable energy, after the NSW Government approved the development of the 80 MW Quorn Park Solar Farm. A small step in the plan , but a giant leap for the planet.
The Australian renewables sector was not immune to a host of challenges that marked the first half of the year, but the pipeline of renewable energy projects in the country reached new heights. While new construction dipped to a four-year low and financial close remained out of reach for a great number of projects, the second half of the year is looking more positive, according to Norwegian consultancy Rystad Energy.
New economic modelling from Accenture’s AlphaBeta has found 76,000 clean jobs just waiting to be created over the next three years if a green recovery from the twin recoveries from the Black Summer Bushfires and Covid-19 were implemented. The Plan, commissioned by the Climate Council, breaks down potential jobs in the hardest hit regions and occupations.
A dispatchable hybrid solar project has been proposed by the Australian solar thermal specialist to power the community and resources sector in the Mount Isa region of Queensland.
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