ITP Renewables has released Version 1 of open-CEM, an open-source modelling platform that allows users play out tailored made energy-transition scenarios on the National Electricity Market (NEM) for years simulated up to 2050. The platform is an extraordinary tool for investors, policy makers, project developers and the public.
The Queensland government has pledged to support Genex’s project at Kidston with up to $132 million. The funding will be used to build a single circuit transmission line and connect a massive pumped hydro project with the main grid, unlocking additional stages for the clean energy hub, including up to 270 MW of additional solar and up to 150 MW of wind.
The Australian Energy Market Operator (AEMO) has today released its 2019 Electricity Statement of Opportunities (ESOO), a forecast of the supply and demand conditions across the National Electricity Market (NEM) as the country moves toward the 2019-20 summer. AEMO warned that a dearth of short and longer-term investment in dispatchable resources and transmission will ensure real-world impacts this summer.
The Australian Renewable Energy Agency (ARENA) announced last week that it would provide up to $40 million in funding to fast-track a Pumped Hydro Energy Storage (PHES) project in South Australia. ARENA is conscious of the need to store South Australia’s fast-growing renewable generation fleet.
AC Renewables, the energy arm of Philippines’ Ayala Corp, and Australia’s UPC Renewables have agreed to buy 51% in a 250 MW pumped hydro project and a neighboring 300 MW solar project, both located in South Australia.
After it deployed a record $1.3 billion into the clean energy sector in a 12-month period, the Clean Energy Finance Corporation said it will sharpen its focus on energy storage and other technologies to support the stability of the national grid.
As it transitions from a wind-dominated renewable energy mix to include a wider range of energy options such as large-scale PV, pumped hydro and battery storage projects, South Australia is considering new planning policies.
The Queensland government’s reverse auction got a step closer with the announcement of 10 shortlisted renewable energy proponents as it seeks to bring up another 400 MW of solar and wind energy and battery storage into the market.
Australia’s first large-scale project to use pumped hydro to store solar generated power, the Kidston facility in north Queensland, has landed a $610 million loan from the Federal Government’s the Northern Australia Infrastructure Facility (NAIF).
Increased storage and strategic transmission development will be needed to ensure the lowest cost and risk transition of Australia’s energy system, the Australian Energy Market Operator states in its latest study. In 20 years time, the need for storage will be at a scale not seen before in the NEM, and both pumped hydro storage and distributed storage are set to play major roles in lowering wholesale electricity prices and building a reliable and resilient power system.
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