Finance

In its H1 2020 report, the UK-based infrastructure investor revealed it had suffered substantial losses, mainly due to performance issues on its renewable energy projects. Two of the company’s Australian solar farms were particularly badly hit by transmission and equipment issues.

Such is the Global Village effect that the more globalised we are the more localised we become. The impacts of a global pandemic have choked industries and driven us into self-isolation, but at the same time, we are seeing an acceleration in the ingenuity of sales efficiency in the solar industry and a realisation of the necessity of self-generation. Tie this up with a shift to local government action on renewables and sustainability and the global recovery from Covid-19 is very much a local affair.

New research from Cornwall Insight finds grid-scale solar farms are paying 10-20% of the cost of providing frequency ancillary services to the National Electricity Market, despite currently generating around 3% of energy in the system.

Neoen’s proposed Goyder South Hybrid Renewable Energy project is so vast that analogy does it a disservice. The French developer has commenced the project’s notification period with the submission of its Development Application, giving us the first real opportunity to begin to quantify its sheer enormity. 1200 MW of wind, 600 MW of solar, and 900 MW/1,800 MWh of battery storage.

As part of the state’s economic recovery plan, the Palaszczuk Government has committed $145 million for Renewable Energy Zones in north, central and south-west Queensland.

Analyst IHS Markit has predicted storage will rebound this year following its first year-on-year decline in 2019. The technology is being rolled out at pace despite Covid-19 with state-level policies set to keep the US the global capital for the next five years.

A new analysis by the Clean Energy Council reveals a dramatic fall in the number of large-scale renewable energy projects committed in the second quarter of 2020, with just three projects representing 410 MW of new capacity reaching financial close – the lowest level since 2017.

An ARENA-backed project will focus on addressing barriers to further renewable energy penetration in the Alice Springs local electricity network.

In addition to 330 MW of batteries already announced, Australia’s biggest power producer has unveiled a plan for another 850 MW of grid-scale storage, the bulk of which will be installed alongside its Liddell coal-fired power plant.

Big batteries derive most their value from replacing gas peaker plants and averting the installation of excessive amounts of transmission and generation infrastructure. However, batteries cannot replace all gas plants, MIT researchers found. From a holistic economics perspective, there is a certain share of storage that is considered cost-efficient. With battery costs declining, that share is constantly increasing.