There's still time to reset political debate on clean energy ahead of Federal Election
At least half of Australia’s power should be delivered by renewable energy such as solar, wind and hydro by 2030, the Clean Energy Council said today when releasing its policy directives for the upcoming Federal Election.
Clean Energy Council Chief Executive Kane Thornton said investment in the renewable energy and storage industries was at record levels, but national energy and climate policy is the missing link to allow a smooth transition from fossil fuels to clean energy – and to drive down power prices.
“The plunging cost of wind and solar has contributed to a record $20 billion worth of projects now under construction. This extraordinary momentum will only continue with strong and enduring federal policy leadership,” Mr Thornton said.
“Federal politics has failed energy consumers. Leadership from the next Federal Government is essential to deliver cheaper, cleaner and more reliable energy.
“The Clean Energy Council has developed a package of policy directives which will help keep the extraordinary momentum going in the sector and continue generating jobs and investment for Australians in regional communities.”
Mr Thornton said we need to put away our big sticks and get serious about real reform of the energy market, policies to bring on more pumped hydro and battery storage, as well as strengthening our network of poles and wires.
“We should also begin planning the infrastructure to export renewable energy to the rest of the world through clean hydrogen and high-voltage DC cables. We are also calling on the next Federal Government to build on the incredible success of the Australian Renewable Energy Agency and Clean Energy Finance Corporation and extend the life of these critical organisations.
“Australian households have taken up rooftop solar in record numbers. There is now a clear role for the next Federal Government to ensure all new homes install solar power as well as supporting households to install battery systems.
“A clean energy future is within reach, but we need effective planning and policy at the federal level to get there. We look forward to working with both the Federal Government and the Labor Party on developing policy, as well as providing advice to whoever wins the next election.”
The 10 recommendations from the Clean Energy Council’s policy directives are grouped into the following categories:
- Commit to a target of at least 50 per cent renewable energy by 2030, as well as a zero-emissions electricity sector well before 2050
- Accelerate reforms and finance support to develop Australia’s electricity transmission network for a clean energy future
- Encourage the uptake of energy storage such as batteries and pumped hydro
- Maintain the Small-scale Renewable Energy Scheme (SRES)
- Mandate solar power in all new homes
- Support innovation in finance, technology and integration. Extend the Australian Renewable Energy Agency (ARENA) and the Clean Energy Finance Corporation (CEFC)
- Commit to the development of a clean energy export strategy
- Support skills development to meet the needs of a growing industry
- Support the establishment of a battery manufacturing and recycling industry
- Develop a single national electrical safety body.
The full package of recommendations is available from the Clean Energy Council website.
Source: Clean Energy Council
Sunraysia Solar Farm
A sod-turning ceremony for the 255 MW Sunraysia Solar Farm, ~17km south of the Balranald in NSW, was held by developer Maoneng and majority owner John Laing this week. Decmil has been appointed as the head contractor for the project under an Engineering, Procurement and Construction (EPC) Contract and will also undertake the project’s operations and maintenance when the solar farm is in operation.
Jobs and clean, secure energy under Daley Labor plan to turbocharge renewable energy market
More than 13,000 jobs will be created under a Daley Labor government plan to guarantee pricing for enough renewable energy to provide clean and cheaper electricity for more than three million homes in the state in the next decade.
This is a move that signals to the market that NSW is finally serious about energy security and climate change.
Labor will deliver a total of 7 gigawatts of new, renewable energy – enough energy to power more than 3 million homes in the state (as many homes as NSW has today) – by 2030, ensuring NSW has secure, clean and affordable energy.
A Daley Labor government will deliver the guarantees through a series of competitive tenders and long term contracts – known as reverse auctions which drive the price of new-build renewable energy down and reduce the price of electricity.
This package includes the creation of a new State Owned Corporation to deliver a further 1 gigawatt of renewable energy generation and storage over the next decade
Announcing the policy today, NSW Labor Leader Michael Daley said the commitment to guarantee pricing gave the private energy sector the confidence to invest in NSW and create thousands of new jobs.
“I want to make NSW a global leader of the clean energy industry. I want NSW workers and families to reap the benefits.
“But we can only do that if we send a message to the energy sector that a NSW Labor State Government will back them and guarantee a market.
“This approach is already being successfully used in the ACT and in Victoria and overseas and the Queensland government is preparing for such a move.
“NSW cannot be a supplicant state for energy. We have to produce our own energy, create our own jobs and give energy security to our own people. If we don’t move now, we will completely fall behind and lose our advantage.”
“Under the Liberals and Nationals we have the worst of both words where there is no certainty about emissions or renewable energy, which is acting as a deterrent to the private sector,” he said.
The timing, size and content of each auction round will be determined in conjunction with the Australian Energy Market Operator. Subject to this, a Daley Labor government will commission 4 gigawatts in its first term of government.
Today’s announcement builds on last week’s commitment to take NSW beyond 1 million solar homes over the next decade.
Shadow Energy Minister Adam Searle said that based on Victorian modelling on a similar scheme the move could create 13,485 jobs, attract $9.5 billion in capital investment and deliver $5 billion in economic benefits to the regional NSW economies.
“Labor’s Clean Energy Plan will turbocharge the energy market in NSW. It will lead to cleaner and more secure energy and ultimately deliver lower power prices for households. Everyone will benefit from our well-planned and orderly transition to renewable energy.”
Unlike the Liberals and Nationals who are splurging $2.2 billion on Sydney stadiums, Labor is investing in jobs in the regions.
Source: NSW Labor
Tasmanian company awarded $8 million contract to manufacture tower components for Cattle Hill Wind Farm
Goldwind announced today it has appointed Crisp Bros. & Haywards (Haywards) for a major tower supply contract for Cattle Hill Wind Farm.
“We are extremely pleased to partner with Haywards for the local production of tower components. Twenty per cent of the tower components required for the 48 Goldwind turbines at Cattle Hill Wind Farm will be manufactured locally in Tasmania by the Haywards team in Launceston. This amount suits Haywards’s current capacity.
“The Haywards team joins a number of Tasmanian project partners that are working to make the construction of the wind farm possible. This includes Hobart based company, Hazell Bros – undertaking the full civil and electrical works for the project – and Launceston based company, Gradco currently undertaking over $10 million of road upgrades to existing roads within the Central Highlands region.
“Alongside our major project partners are many local subcontractors and suppliers that are critical to the construction of the project.’ commented John Titchen, Managing Director of Goldwind Australia.
Haywards Managing Director, Steve Edmunds commended Goldwind’s ongoing commitment to engage local industry for the construction of the wind farm.
“Goldwind continues to proactively support local jobs in Tasmania.
“As well as manufacturing tower components for the project, Haywards has been engaged by Hazell Bros for a $4 million contract to assist with the production of tower foundations for 48 Goldwind turbines.
“To support our delivery of these contracts, Haywards has engaged several Tasmanian businesses, including Liberty One Steel, McElligotts, GMS Services, and other suppliers of materials and consumables.” commented Steve.
Construction of Cattle Hill Wind Farm commenced mid-2018, with the project to be fully operational in late 2019. Approximately 120 staff are currently working on site, with up to 150 expected during construction peaks on site. Six of the permanent maintenance staff for the project have already been engaged, with up to 10 permanent maintenance staff required once the wind farm is complete.
Once operational, Cattle Hill Wind Farm will produce clean energy to power approximately 63,500 Tasmanian homes.
Source: Goldwind Australia
Beryl Solar Farm
Mechanical installer Tranex Solar Pty Ltd said it is making good progress on the 106 MW Beryl Solar Farm located five kilometres west of Gulgong, NSW. Construction of the 322 hectare site is includes the installation of:
- 44,457 Piles
- 8,607 Trackers
- 258,210 Modules
The Beryl Solar Farm will produce energy to run approximately 25,000 average NSW homes, displacing more than 167,000 metric tons of carbon dioxide emissions per year. It will see electricity generated with no water use, no air emissions, and no waste production, with the smallest carbon footprint of any PV technology available.
Renewable energy workshop statement
During a three day workshop held at ANU recently, experts from a broad range of backgrounds discussed the future of the electricity system. The following statement has been prepared to inform both federal and state policy, in order to deliver an equitable and clean system.
The statement complete with a list of signatories can be downloaded here.
Electricity transmission, storage and market reform required now to achieve emissions targets
50 energy experts gathered for a three day symposium at the Australian National University last week to discuss the latest research on the role of renewable energy in Australia’s low-carbon transition.
The group found that renewable energy is central to our efforts to mitigate climate change. In recent times the Australian energy sector has deployed solar and wind power at unprecedented rates. But there are emerging bottlenecks, and the present market settings do not deliver for consumers.
While action is also required in other sectors of the economy to achieve deep emissions cuts, a sustained shift from fossil fuels to solar and wind power is absolutely necessary for Australia to meet and surpass our 2030 emissions target.
To maintain this rapid pace of renewable energy deployment, Australia urgently needs:
- additional electricity transmission
- additional energy storage and demand response mechanisms
- electricity market reform
- a solid electricity infrastructure investment framework.
The shift to 100% renewables will be accompanied by the inevitable phasing out of existing coal power plants. Achieving a smooth transition will require careful attention to coal power workers, their communities and energy consumers.
To meet Australia’s emissions targets it is imperative that federal and state governments address emerging infrastructure bottlenecks, embark on market reform and improve the investment framework.
The symposium was attended by experts on energy generation, storage, transmission, economics, markets, regulation and policy and included representatives from universities, research institutes, civil society and government agencies.
New ACCIONA corporate PPA with Viva Energy supports industrial operations
ACCIONA Energy has expanded its strategic partnership with commercial and industrial clients by signing a corporate Power Purchase Agreement (PPA) with leading energy company Viva Energy, to support the strategically important Geelong Refinery in Victoria.
Viva Energy supplies around a quarter of Australia’s liquid fuel requirements and sells Shell products under licence across the country.
Under the PPA, the refinery has partnered with ACCIONA’s new 132 MW wind farm at Mt Gellibrand, which is around an hour away from the Geelong facility. The PPA represents around one third of the refinery’s electricity load, and the contract commenced in January 2019.
ACCIONA Energy Australia Managing Director Brett Wickham said: “Companies like Viva Energy understand the value alternative energy supply solutions, such as this wind-backed corporate PPA, offer in reducing electricity price volatility and costs. We take a strategic approach to understanding the needs of commercial and industrial clients, and are pleased to be working with Viva Energy on this corporate PPA. We share their commitment towards greater energy productivity and the environmental benefits the wind farm brings.”
Viva Energy CEO Scott Wyatt said: “Access to reliable and affordable electricity is critical for our refining operations which need to operate continuously and be able to compete with large scale refineries overseas. Over the last few years the cost of electricity supply in Victoria has more than doubled and has become increasingly subject to pricing spikes due to weather and reliability events causing disruptions to generation and supply.”
“Our research has shown that renewable energy is very competitive with existing sources of generation and can be a viable and sustainable part of the energy mix for a business like ours. This agreement with ACCIONA is a win-win outcome for us both as it helps lock in a stable electricity price over the long term, while supporting a local renewable energy source not far from the refinery.”
On a global scale, ACCIONA Energy is increasing the sale of electricity from its portfolio of renewable energy generation to large organizations, helping them reduce their carbon footprint and become more sustainable. The company now has over 500 contracts in place. Customers operate in a wide variety of sectors such as transport, telecommunications, infrastructure, industry, consumer goods and health services. Specifically, they include well-known names such as Google, Unilever, General Mills, Kellogg’s, and Bosch.
SA Water’s solar investment shines on local business
SA Water has awarded a framework agreement contract for up to $304 million to South Australian company Enerven, to deploy approximately 154 megawatts (MW) of new solar photovoltaic generation and 34 megawatt hours of energy storage, across around 70 of its sites over the next 18 months.
The investment in more than 500,000 solar panels is expected to deliver a return on investment in six years, and help SA Water reach its ambitious goal of achieving zero net electricity costs from 2020.
Minister for Environment and Water David Speirs said the project is expected to support around 250 jobs during construction, and include Aboriginal business engagement, apprentice training and opportunity for the supply chain within South Australia.
“The scale and complexity of this landmark program will deliver opportunities for local businesses across a range of sectors, drawing on South Australian excellence in everything from civil works through to security services, engineering and project management, to high-tech system automation,” said Minister Speirs.
“SA Water staff conceived and shaped this initiative – that’s South Australians leading the way with the smarts and skills to strategically integrate renewable energy and storage within the longest water network in the country.”
SA Water Chief Executive Roch Cheroux said neutralising large operating costs like electricity – which reached $62 million in 2017-18 – will help deliver low and stable prices for customers.
“Our bigger picture is a zero cost energy future, where we regain control over one of our single largest operational expenses. There’s no doubt our ambitious goal will be a stretch, but we won’t lose sight of it,” Roch said.
“We provide 1.7 million people across South Australia with safe, clean drinking water and reliable sewerage services, every day, and the water and wastewater treatment and pumping operations behind this are very energy intensive and make us one of the biggest electricity users in the state.
“This is an important milestone for our energy management activities, and boots getting ready to hit the ground are a signal that we’ll soon start seeing benefit realisation, as the new sites are progressively energised.”
Enerven was successful in an extensive, multi-stage public procurement process completed with oversight of an independently appointed probity advisor, and is expected to mobilise to the first group of sites – including large facilities like the Bolivar Wastewater Treatment Plant and Morgan Water Treatment Plant – in the first half of this year.
Enerven General Manager Richard Amato said SA Water’s energy initiative is an exciting example of South Australia leading the transition to a renewable energy future.
“We’re relishing the opportunity to be part of a world class program like this, helping a forward-thinking company like SA Water harness renewable technology to deliver benefits for its customers and the environment,” Richard said.
“Growing and developing the local industry as we deliver projects is important to us because it drives lower costs and higher productivity, sustainable outcomes, and fosters innovation based on local knowledge.”
Enerven is a wholly-owned subsidiary of SA Power Networks, headquartered in Adelaide, with more than 500 staff based from branch offices, warehouses and depots located within metropolitan and regional South Australia.
A local sub-contractor set to play a key role in the delivery of SA Water’s new energy infrastructure is Tonsley-based SAGE Automation, which will deliver control and monitoring systems.
“Our 350-strong team work on projects across the world and are excited about bringing their knowledge back to bear on an iconic project, right here in our backyard,” said SAGE CEO Adrian Fahey.
“By including sophisticated automation with their new generation infrastructure, SA Water is creating assets that will truly integrate with their wider water and wastewater operations to deliver a fundamental change to their operations.”
Installation of the new solar arrays will take priority, with energy storage devices to follow after the results of trials with traditional and thermal devices have determined the most suitable technology combinations.
This investment will increase the total of SA Water’s solar generation capacity to approximately 160 MW, which exceeds that of many large-scale commercial solar projects, and will complement a range of other existing energy initiatives like biogas and hydroelectric generation, and trading as a market participant.
Following an initial $10 million investment in December 2017, the construction of 6 MW of solar at SA Water’s Glenelg, Hope Valley and Christies Beach facilities is nearing completion, and will connect to the National Electricity Market in coming months.
Source: SA Water
Tilt Renewables entitlement offer
Tilt Renewables Limited ("TLT") is pleased to announce that it is raising approximately A$260 million of new equity through an underwritten pro rata accelerated entitlement offer ("Offer") of new ordinary shares ("New Shares") at an issue price of NZ$1.75 per New Share.
Purpose of the Offer
On 14 February 2018, TLT announced that it had submitted a bid ("Bid") into the Victorian Renewable Energy Auction Scheme ("VREAS") for a portion of the electricity produced by the proposed Dundonnell Wind Farm ("Project”). Under the VREAS, the Victorian Government sought to contract new renewable energy capacity in connection with the Victorian Government's commitment to the Victorian Renewable Energy Target of 25% of renewable energy generation in Victoria by 2020, and 40% by 2025.
The Bid was successful, and TLT secured a support agreement from the Victorian Government ("Support Agreement") with a term of 15 years, which will provide TLT with price certainty for approximately 37% of the electricity and green products produced by the Project. Notwithstanding the 15 year term, the Victorian Government has the right to terminate the Support Agreement at any time.
If the Victorian Government was to exercise this right, TLT may suffer economic losses. The Victorian Government is not required to fully compensate TLT for such losses.
TLT subsequently secured a further 15 year off-take contract (together with the Support Agreement, the "Off-Take Contracts") for an additional 50% of the electricity and green products produced by the Project following a competitive process undertaken by Snowy Hydro, an Australian Federal Government owned electricity generator and retailer.
These Off-Take Contracts combine to provide price certainty for approximately 87% of the output of the project for their respective terms.
Following the Board approving the Project on 30 October 2018, TLT reached financial close on the Project (i.e. had executed all key Project-related contracts) on 14 November 2018.
TLT has partnered with Vestas – Australian Wind Technology Pty. Limited for the supply of turbines and construction of the project under a full Engineer, Procure and Construct (“EPC”) contract and with AusNet Services for the transmission connection component to be delivered via a Build, Own and Operate (“BOO”) model.
Construction of the Project commenced as planned in January 2019, allowing TLT to meet contractual obligations under the Support Agreement to supply electricity from the Project by September 2020.
The Project is expected to cost approximately A$563 million. A total of A$300 million for the project costs will be funded by a combination of a syndicated bank debt package from TLT's existing banking syndicate and a term facility with the Danish Export Credit Agency. The proceeds of the Offer plus cash reserves will be used to fund the remaining expected construction costs (i.e. approximately A$260 million). Shareholders approved the Project at TLT's annual meeting, held on 28 August 2018. For more information regarding the details of, and rationale for, the Project, please refer to the notice of meeting relating to that annual meeting of Shareholders, dated 1 August 2018, available at www.tiltrenewables.com.
Source: Tilt Renewables
Ceres Wind Farm
Developer Senvion applied for consent to vary its current development authorisation for the construction of its proposed Ceres Wind Farm in the Yorke Peninsula in South Australia. The variation sought would reduce the number of wind turbines from 187 to 170; increase the maximum tip height of each turbine from 163m up to 220 metres; and allow for the use of wind turbines up to 6MW capacity. The previously approved wind turbine sites are located within four (4) project zones on privately owned land on Yorke Peninsula; south-west of Muloowurtie Point [Northern Zone], west of Port Julia [Central East Zone], north-west of Port Vincent [Southern Zone] and north-east of Curramulka [Central West Zone]. The project includes a High Voltage Direct Current (HVDC) system (estimated investment of A$500m) comprising two converter stations and more than 80 km of undersea and underground cable to strengthen the South Australian grid.
New England Solar Farm
UPC Renewables’ proposed New England Solar Farm, approximately 6km east of the township of Uralla in NSW, has been placed on public exhibition by the NSW Department of Planning & Environment. The project will consist of a grid-connected solar farm developed across three separate arrays of photovoltaic (PV) modules, a battery energy storage system (BESS), along with associated infrastructure incorporating transmission infrastructure and substations to enable connection into the existing electricity transmission network. The project will have a targeted electricity generating capacity of up to 720 MW (AC) and a BESS with up to 200 MW (AC) two-hour energy storage.
Garden Island microgrid commissioning complete
Carnegie Clean Energy (ASX:CCE) is pleased to announce that it has completed commissioning of the Garden Island Microgrid (GIMG) Project. The Garden Island Microgrid is a 2MW Solar PV and 2MW/0.5MWh Battery Energy Storage System built by Carnegie on HMAS Stirling, Australia’s largest naval base, located on Garden Island, Western Australia.
During the commissioning phase, the system sent renewable power to the base network and has already shown its ability to deliver a reduction in Garden Island’s peak load. With commissioning complete, the system will shortly commence commercial operations upon receipt of the ‘Approval to Operate’. Under Carnegie’s Power Supply Agreement, Department of Defence will purchase the power produced by the Project.
Source: Carnegie Clean Energy
WA companies to lead $8.8 million power system rollout
- $8.8 million in contracts signed for Round 1 in stand-alone power system (SPS) rollout
- Largest deployment of SPS units in Australia
- 57 sites across WA’s South West to receive SPS, including 2 nanogrids
Two local renewable energy companies have been awarded the lion’s share of Western Power’s $8.8 million stand-alone power system (SPS) contracts.
Perth-based companies Hybrid Systems and BayWA r.e. Solar Systems will be responsible for supplying the majority of the SPS units for Round 1 of the program.
The companies will utilise local engineering and construction expertise to deliver what is believed to be the largest single rollout of SPS units in Australia.
The units are modular and scalable and range from less than 5kWh, to supply electric fences and dam pumps, to 50kWh for large-scale agricultural businesses.
Once installed and commissioned, the ongoing servicing and operation of the SPS units, which combine solar and battery technology with a backup generator, will be provided by the vendors for a two-year period.
Servicing the 57 SPS units for its entire working life will save Western Power almost $6 million, compared to traditional network refurbishment.
The project builds on the successful trial of the technology on six properties in the Great Southern in 2016, customers were saved from over 90 hours of outages in their second year.
“The McGowan Government is committed to supporting WA companies involved in the renewable and battery technologies sector,” said Energy Minister Johnston.
“Increasing regional reliability is a key focus for the Government and I support the innovative solutions like SPS that Western Power is deploying for regional homes and businesses.
“This announcement builds on the WA Future Battery Industry strategy, which shows the renewable energy industry is a massive opportunity for jobs in our State.”
Source: WA Government
Moorabool Wind Farm
Goldwind Australia is applying for a licence from the state government to generate electricity from the Moorabool Wind Farm in Victoria into the NEM starting in early March. The Moorabool Wind Farm consists of 50 Goldwind turbines capable of generating a combined total of up to 170 MW.
Australia’s first offshore wind farm being stalled by Morrison Government
Development of Australia’s first offshore wind farm, which would power up to 1.2 million homes, has been stalled by Energy Minister Angus Taylor’s failure to sign off on an exploration license allowing a detailed assessment of the wind resource to commence.
The Department of the Environment and Energy confirmed during Senate Estimates that an evaluation of the project has been undertaken, a plan for a customised exploration license developed, and a briefing and recommendations provided to the Energy Minister, but that the project can progress no further without the Minister granting the exploration license.
The Star of the South project seeks to construct 250 wind turbines in Commonwealth waters off the coast of Victoria’s Gippsland region, generating up to 20 per cent of Victoria’s electricity needs and feeding the power into the National Electricity Market via an underground cable to the Latrobe Valley.
The Maritime Union of Australia said the project — which the company claims will create up to 12,000 manufacturing and construction jobs and slash Australia’s carbon emissions — appeared to be falling victim to the Morrison Government’s ideological hatred of renewable energy.
MUA Deputy National Secretary Will Tracey said the exploration license awaiting approval did not allow construction to commence and was simply about allowing the use of floating buoys and platforms off the Gippsland coast to gather wind and wave observations.
“We have a major wind project that would create thousands of jobs and provide clean, reliable energy for more than a million Australian households, but because of their ideological hatred of renewable energy the Morrison Government appears to be actively stalling its development,” Mr Tracey said.
"The Star of the South project has been in the works since 2012, yet in this time no legislation has been put forward, no regulatory framework put in place, and no responsible agency nominated, despite offshore wind being an established industry internationally.
“Now we have revelations from Senate Estimates that Energy Minister Angus Taylor has been briefed on the project and presented with recommendations, yet the exploration license continues to sit on his desk gathering dust.
"Rather than support renewable energy projects, under the Morrison Government we can't even get approval for a few wind measurement buoys off the Gippsland coast.
“Energy Minister Angus Taylor must get off his hands and immediately allow the Star of the South wind project to move forward to the exploration stage.”
Mr Tracey said offshore wind generation was a mature industry internationally which has successfully operated for two decades, but Australia was falling behind, putting future employment opportunities at risk.
“This project isn’t just about generating renewable energy and tackling climate change, it’s about creating secure jobs for the future, particularly for workers who are being displaced from the offshore oil and gas industries,” he said.
"The Federal Government urgently needs to put in place a plan to support the development of the offshore wind industry, including a clear regulatory framework, along with the right port infrastructure and specialised construction vessels to roll out this project and others like it as quickly as possible.”
Sunshine Energy Solar Farm
A ground-breaking ceremony was held this week for Sunshine Energy’s 1500 MW Sunshine Energy Solar Farm, plus 500MWh battery, project near Kilcoy in Queensland. The original development application outlined installation of 5,191,200 solar panel modules and 143 shipping containers to house batteries for the project. Two substations will be constructed by Powerlink for grid connection. Construction of a small 50 MW solar panel array is proposed along the northern boundary of the site, near the D’Aguilar Highway. The layout and orientation of the solar panels within this area will be created in the shape of a koala, with long term plans to have tourist facilities (such as a visitor centre) integrated into the solar farm. It’s planned to build the solar farm in three X 500 MW stages.
Very strong growth in Neoen’s full-year 2018 revenue
- Revenue surged 63% to €227.6 million (up 70% at constant exchange rates)
- All this growth was organic: Neoen commissioned close to 400 MW and launched the construction of over 730 MW in additional capacity during the year
- Neoen is reiterating its business and profitability targets for 2018 and 2021
Neoen, France’s leading independent producer of renewable energy and one of the fastest-growing worldwide, is reporting unaudited full-year revenue of €227.6 million for the year ended December 31, 2018. This 63% increase compared to 2017 was driven solely by organic growth. At constant exchange rates, revenue rose by 70% compared to the previous year.
Highlights of 2018
- Strong growth in the asset portfolio in operation and under construction
391 MW in solar and wind energy capacity was commissioned in 2018. In 2018, Neoen launched the construction of more than 730 MW in capacity (solar, wind, storage) due to be commissioned over the short or medium term.
- Reinforcement and extension of our geographical clusters
o Australia is the group’s principal geographical area: in mid-2018, Neoen announced that it had broken through the one-gigawatt mark in terms of its capacity in service and under construction at facilities in Australia. Since then, it has commissioned 189 MW at Coleambally, the largest solar power plant in service in Australia.
Jim’s Plain Renewable Energy Park
UPC Renewables submitted a variation to proposal to the federal government to add a solar farm component to the 160 MW Jim’s Plain Wind Farm in West Montagu, north-west Tasmania. UPC Renewables is proposing to install up to 30 MW of solar generation on part of the site, in addition to the wind turbines. The area for solar generation will be focused on existing cleared land within a previously approved area.
ReNu Energy enters into Cooperation Agreement with specialist German bioenergy company
- ReNu Energy and Germany technology and engineering company AGO Bioenergy GmbH (AGO) to join forces under a Cooperation Agreement to unlock further waste-to-energy opportunities across the Australian and New Zealand markets.
- ReNu Energy to be exclusive distributor of AGO Bioenergy technology, equipment and services in Australia, New Zealand and the Asia-Pacific Region.
- Strategically strengthens ReNu Energy’s position as an end-to-end provider of waste to energy engineering, services, technology and combined heat and power (CHP) equipment solutions.
- ReNu Energy and AGO Bioenergy to focus on the deployment of anaerobic digestion equipment, containerized CHP, absorption chillers and de-packaging machinery under both Build Own Operate & Maintain (BOOM) and turn key solution models.
ReNu Energy Limited (ASX: RNE) and AGO Bioenergy GmbH (AGO) are pleased to announce the execution of a Cooperation Agreement that will see the two companies join forces in the deployment of bioenergy/waste to energy technology, equipment and services in Australia, New Zealand, and Asia-Pacific Region.
AGO is a 100% subsidiary of AGO AG Energie+Anlagen, a German based company with over 35 years’ experience in the designing, engineering, construction and supply of equipment to energy projects throughout Europe and Africa. AGO specialises in the delivery of decentralised power generation projects through the construction of anaerobic digesters, natural gas and biogas CHP and trigeneration plants, with a strong presence in the food processing, food and municipal waste, dairy and beverage industries.
ReNu Energy is committed to building its capability and broadening its product offering in the Australian and regional bioenergy market. The Cooperation Agreement with AGO will enable ReNu Energy to provide further BOOM solutions whilst also growing its business through the supply of AGO powered equipment, technology, and services.
The Cooperation Agreement provides ReNu Energy with the potential to secure significant staged revenues through increased project returns, sales of capital equipment, provision of engineering services and technology transfer.
The strategic collaboration with AGO includes the appointment of ReNu Energy as an exclusive representative/distributor for the sale of all AGO products, technologies and services into the Australian, New Zealand and Asia-Pacific territories.
ReNu Energy’s benefits from the Cooperation Agreement include:
- Exclusive access to AGO’s products, technologies and services resulting in a competitive advantage in the regional bioenergy/waste-to-energy sector;
- Access to AGO’s project experience and expertise as an exclusive partner for process and design engineering;
- The ability to fast-track the development of bioenergy projects through AGO’s shared resources and technologies; and
- Access to AGO’s high-quality supply chain, enabling significant capital cost reductions and economies of scale for the technology providing a substantial competitive advantage in the Australian market.
AGO’s benefits from the Cooperation Agreement include:
- Sales and distribution of their products, technologies and services into new territories with an expert partner;
- Expanding their global footprint and further development of innovative products and solutions; and
- Increased global market share across the bioenergy/waste-to-energy sector.
Commenting on the execution of the agreement, ReNu Energy CEO and Managing Director Craig Ricato said, “After months of negotiations and discussions, we are extremely pleased to have executed the Cooperation Agreement with AGO. There are great synergies between our two businesses, particularly the significant experience which AGO has in the delivery of turnkey anaerobic digestion and generation solutions. AGO brings to the table significant expertise in project delivery across food and organic waste management, including diversion from landfill; an area of increasing importance that is currently underserved and gaining momentum in Australia.
Strategically, the AGO agreement complements our existing Bioenergy Alliance partnership with the Resonance Industrial Water Infrastructure Fund (RIWIF), providing added project investment opportunities. This is the 2nd international agreement ReNu Energy has executed in the last 12 months, validating the untapped investment potential the Australian bioenergy market offers and more importantly, how ReNu Energy is positioning itself to be a leading market participant.”
“AGO Bioenergy is extremely pleased to enter into the Cooperation Agreement with ReNu Energy”, said Mr. Thorsten Winkler, Managing Director of AGO Bioenergy. “After a comprehensive review of the Asia-Pacific region, we believe that ReNu Energy is best positioned to act as our local partner.
ReNu Energy has a demonstrated track record in the bioenergy space and we believe that by providing ReNu Energy with access to AGO’s technologies, equipment, design and services, both companies will play a significant role in the development of the waste-to-energy and bioenergy market within the region.
Source: ReNu EnergyView PDF