Finance

Grid-scale wind and solar output reached new highs in Q4 last year pushing power prices to a three-year low despite a number of coal-fired generator outages. As Australia’s big PV fleet continues to expand, the National Electricity Market saw the highest output of big PV on record, but also record curtailment.

The developers of the Kennedy Energy Park will have to pay more than $7.5 million in variation claims and delay costs pursuant to an adjudication decision which is likely to raise concerns in the Australian renewable energy sector.

Construction has begun on Royal Dutch Shell’s 120 MW solar farm which will generate clean energy for QGC’s natural gas processing plants near Wandoan in South West Queensland. The project is the oil major’s first global investment in an industrial-scale solar farm.

The French oil and gas giant—which is already a partner in Adani’s natural gas business—will now invest US$ 510 million to buy 50% stake in 2,148 MWac operating solar power projects owned by Adani Green Energy Limited.

From July 1, if it is run by the City of Adelaide, it is being powered by wind and solar electricity under a landmark power purchase agreement inked electricity retailer Flow Power.

In a letter addressed to Prime Minister Scott Morrison, Queensland Deputy Premier Jackie Trad has called for more renewable investment and Federal government backing to help create and support more jobs in more industries, but gas is not out of the picture.

As Australia continues to battle horrific bushfires, Prime Minister Scott Morrison has announced a renewed focus on gas-fired electricity to reduce emissions and lower energy prices. This is a dangerous and completely unnecessary route.

Encouraging money to chase firming of renewables is expected to be just one positive byproduct of a proposed new financial derivatives platform that will allow industry players to hedge against volatility in the pricing of renewable energy.

An energy deal struck between the Morrison and Berejiklian governments that will see more than $2 billion invested to increase gas supply and reduce greenhouse gas emissions from the electricity sector has prompted a flurry of reactions that boil down to two conflicting interpretations of its purpose.

In yet another confirmation of a dramatic drop in spending on large-scale renewables in Australia, a new analysis by the Clean Energy Council reveals a fall from 51 projects worth $10.7 billion in 2018 down to 28 projects worth $4.5 billion in 2019. Mounting regulatory risks, under-investment in transmission and policy uncertainty are the main reasons behind investment slow-down, which is set to put greater pressure on reliability and power prices as Australia’s old coal-fired power stations continue to close.