Markets & Policy

The Northern Territory has given major project status to an ambitious plan to develop a 10 GW solar farm coupled with a 20-30 GWh storage facility near Tennant Creek and export solar power harvested in the Australian desert to Singapore via subsea cables.

A joint report released today by AEMO and Energy Networks Australia confirms that managing Australia’s growing distributed energy resources presents an extraordinary opportunity, which could result in $100 billion in savings in network infrastructure and $1 billion in benefits across the energy-consumer landscape.

The Australian Energy Market Operator (AEMO) has laid out a $370 million plan for network upgrades in Western Victoria which would deliver almost double the benefit to both energy consumers and energy producers. However, the proposal has provoked federal Energy Minister Angus Taylor’s attack on the state’s renewable energy target.

With 128 MWp, Numurkah is the largest operating solar farm in Victoria. The project developed by French renewable energy producer Neoen has a major supply contract secured with the Laverton Steelworks and is one of two solar farms supplying 100% renewable energy to offset Melbourne’s entire tram network.

The Australian Energy Market Commission (AEMC) is looking to reward large energy consumers for reducing their power usage at times of peak demand. The electricity market’s rule maker is looking to prevent the summer blackouts that have become commonplace around Australia in recent years in a cost effective manner through the proposed rule change.

Fotowatio Renewable Ventures (FRV) has secured financing for the 67.8 MW Goonumbla Solar Farm in New South Wales. The Spanish developer inked a power purchase agreement for the project with Snowy Hydro last year.

The fallout of Victoria’s Solar Homes Program is verging on a “bloodbath” in the words of the Smart Energy Council (SEC) CEO John Grimes, who spoke at length in a SEC Webinar featuring over 200 Victorian solar industry actors about the adverse impacts of the program for both the industry and consumers. The SEC is now readying for action.

The New South Wales Legislative Assembly’s Committee on Environment and Planning has launched an inquiry into the future sustainability of the state’s energy supply and resources. The question being asked: “What does the future of energy look like in NSW?”

According to the Taiwanese market research company, PV module demand will increase by 16% over 2018 shipments. TrendForce also believes this growth trend will continue in 2020.

As sustainability-linked debt financing continues to gather momentum, Australian airports are turning to innovative funding mechanisms. In the latest such deal, the operator of Gold Coast Airport will be incentivised to reduce carbon emissions under a loan agreement with Commonwealth Bank and Westpac.