Part 3: Big solar deployment outshines Queensland coal story
In late 2016, Queensland’s Labor Government revealed a plan for 50% of the State’s electricity to be renewably sourced by 2030, and the state has made significant steps toward that goal.
Pivotal role of corporate power purchase agreements in Australia’s energy transition
Over the last two years, corporate renewable power purchase agreements have become a major force in Australia’s large-scale renewable energy market. In hard figures, 70 leading Australian organizations have made the switch to renewable energy and procured nearly 2.3 GW of mostly solar and wind electricity and supported 5.2 GW of projects, finds the Business Renewables Centre of Australia.
Swiss asset manager invests in Western Australia’s community owned virtual power plant
Swiss investment firm SUSI Partners is investing up to $50 million in a residential solar-plus-battery project enabling participants from communities across Western Australia to generate and consume their own clean power for up to 90% of their needs. The project, which began a year ago, and involves residents leasing solar PV and battery systems from a not-for-profit organisation.
Asia Pacific’s decarbonisation bill could hit US$3.5 trillion by 2040
Recent Wood Mackenzie analysis suggests Asia Pacific’s decarbonisation bill could hit US3.5 trillion by 2040. US$3.5 trillion is enough to buy everyone in Sydney a house at Sydney’s inflated housing prices, or alternatively, it’s enough to buy everyone a single avocado toast at a trendy cafe.
Neoen powers ahead as Australia’s top independent renewable energy producer
French renewables developer and big Australian energy player Neoen has reported strong revenue growth over the first nine months of 2019, driven in no small part by Australian successes.
Kidston solar-pumped hydro project resumes with funding extension
After Genex Power’s offtake agreement with EnergyAustralia fell through earlier this month its concessional federal funding lapsed. However, the Project has secured an extension into 2020, hopefully allowing it enough time to restructure and reach financial close.
Shell to enter Australian electricity market as ERM stakeholders approve takeover bid
Fossil fuel giant Shell is set to make its foray into Australia’s electricity market after shareholders in electricity retailer ERM Power voted in favour of a $617 million takeover bid.
New tool to assess costs and benefits of switching to green hydrogen
A result of a collaboration between global accounting and financial services firm KPMG, Canadian gas giant ATCO, Australia’s national science agency CSIRO and Australian Renewable Energy Agency (ARENA), H2City can be used to assess the costs and benefits of regional town or municipality switching to hydrogen.
Tuvalu granted $6m for renewables ambition
The Asian Development Bank has signed off a grant for the South Pacific island nation to move on its plans to be 100% renewable by 2025.
AEMO publishes indicative MLFs for 2020-21
The Australian Energy Market Operator (AEMO) expects to see further declines in Marginal Loss Factors (MLFs) next financial year on a number of grid-scale PV projects, primarily in south-west News South Wales and north-west Victoria.
