Interconnection with NSW to deliver customer savings
ElectraNet has today released a draft report on its investigation of options to support South Australia’s energy transformation.
The report identifies that the construction of a new, high capacity interconnector between South Australia and New South Wales would deliver substantial economic benefits.
Independent modelling by ACIL Allen estimates that annual residential customer bills would reduce by up to about $30 in South Australia and $20 in New South Wales.
ElectraNet Chief Executive, Steve Masters said an interconnector with NSW was found to provide the largest net benefits to customers of all the options considered.
“Construction of a new 330 kV line between South Australia’s mid-north and Wagga Wagga in New South Wales, via Buronga, is expected to deliver the highest net market benefits by helping to lower electricity prices, improve system security and support our energy transformation towards a lower carbon emissions future,” Mr Masters said.
“Net market benefits are estimated to be around $1 billion over 21 years.
“Savings to customers in South Australia could be delivered as soon as the interconnector is built. This would largely be due to the interconnector placing downward pressure on wholesale electricity prices.
“South Australia is a national leader in renewable energy and we have an opportunity to further build on this reputation. Interconnection with NSW would enable South Australia to increase renewable energy production and export it into the national market.”
Mr Masters said based on current estimates, a new interconnector would cost $1.5 billion across both states, and subject to receiving all necessary environmental and development approvals, could be delivered between 2022 and 2024.
“To deliver the project, ElectraNet would partner with TransGrid, the manager and operator of the high voltage electricity transmission network in NSW. Should the project be approved, TransGrid would fund the works within its jurisdiction.
“Our work has been closely coordinated with the Australian Energy Market Operator (AEMO)’s national planning process that has identified increased interconnection from South Australia as one its key national transmission priorities,” Mr Masters said.
In November 2016 ElectraNet began a process to explore the technical and economic feasibility of a new interconnector with the eastern states, as well as non-network alternatives, through the Regulatory Investment Test for Transmission (RIT-T).
The RIT-T is the economic cost benefit test that is overseen by the Australian Energy Regulator (AER) and applies to all major network investments in the National Electricity Market.
Throughout the RIT-T process ElectraNet will continue to consult with a range of stakeholders, including customer representatives, AEMO, government and other interested groups.
Stakeholders, interest groups and members of the public are invited to have their say on the findings of the draft report, with submissions due by 10 August 2018. Submissions can be emailed to email@example.com.
The next step of the RIT-T involves the publication of a Project Assessment Conclusions Report, which ElectraNet currently anticipates will be released by November 2018. The AER will then make a final ruling on the outcome of the RIT-T before the project proceeds.
For a copy of the draft report, more information about the South Australian Energy Transformation project and information about public consultation click here.
Entura named owner’s engineer for Cattle Hill Wind Farm
Specialist power and water consulting firm Entura has been appointed by Goldwind Australia as Owner’s Engineers for the Cattle Hill Wind Farm in Tasmania.
Located on the eastern shore of Lake Echo in the southern side of Central Tasmania, the wind farm will consist of 48 turbines, producing up to 144 MW of clean renewable electricity. Once operational, the project will provide clean energy to power approximately 63,500 Tasmanian homes each year.
“Entura’s wealth of experience in renewable energy projects around the world, coupled with its intimate knowledge of Tasmania’s power system, will help ensure the successful delivery of this project,” said John Titchen, Managing Director of Goldwind Australia.
Electricity network operator TasNetworks is commencing all works required to connect the wind farm to the Tasmanian grid. Entura is partnering with the principal contractor Zinfra to support TasNetworks’ Waddamana substation and grid augmentation requirements.
“We’re pleased to be partnering again with Goldwind Australia, TasNetworks and Zinfra to help deliver Cattle Hill Wind Farm in our home state of Tasmania,” said Entura Managing Director Tammy Chu. “The project will make a positive and enduring contribution to our clients and the local community, as well as support the State’s future ambitions.”
Entura recently acted as independent advisor to Goldwind Australia during construction of the White Rock Wind Farm in New South Wales, providing engineering design review and site inspections for the balance of plant contract, which included the main wind farm civil and electrical works. In Tasmania, Entura delivered end-to-end services for a number of wind power projects, including Musselroe, Woolnorth and Studland Bay wind farms.
Entura draws on more than 20 years of experience at the forefront of the industry developing and delivering wind farms in Australia. Around the world, the firm has been involved in more than 100 advanced and operational wind farms with projects totalling greater than 20 000 MW in India, South Africa, Sri Lanka, China, the Philippines, New Zealand and the Pacific.
Electricity price relief for households & businesses in QLD, NSW & SA
Around 4.3 million households across Queensland, New South Wales and South Australia are now benefiting from a reduction in retail electricity prices.
This follows the Turnbull Government’s intervention in the gas market last year to ensure more gas for domestic use before it is shipped offshore. With gas fired power plants playing an increasing role in setting electricity prices, securing this additional gas has seen the wholesale price of electricity decline around 25 per cent in the first six months of this year compared to the same period in 2017.
The benefits from falling prices are significant:
- If you’re with Powershop and you run a small business in Queensland, you will see up to a $1470 saving in your power bill each year. If you're a household, you will see a saving of around $140 a year.
- In NSW, EnergyAustralia customers on their Secure Saver will see a $65 reduction in their annual household electricity bills and a small business in South Australia with Red Energy could save up to $1360.
Further power price relief is on the way. The National Energy Guarantee, in conjunction with existing policies, has been forecast to reduce household electricity bills by $400 according to the independent Energy Security Board.
On top of this price relief, more consumers are also getting a better deal since the Government’s meeting with the energy retailers in August last year. As a result of the meeting and the retailers commitment to write to 1.6 million households to tell them of better deals:
- around 270,000 fewer customers are on market offers with expired discounts; and
- around 230,000 fewer customers are on standing offers.
Having turned the corner on power prices, it is important for consumers to make sure they are getting the best deal by logging onto the Government’s comparator site Energy Made Easy.
Recent analysis by the Australian Energy Market Commission has found that customers moving off standing offers could save up to $832 in South Australia, $574 in Victoria, $504 in South East Queensland, $365 in New South Wales and $273 in the Australian Capital Territory.
Source: Australian Government
Historic Snowy deal now complete
The Turnbull Government has now taken full ownership of Snowy Hydro Limited in a deal that paves the way for the Snowy 2.0 project to proceed to a final investment decision by the independent Snowy board.
The historic agreement is part of our plan for a stronger economy. It will help generate more affordable, reliable electricity, and create new jobs.
The deal will also fund congestion-busting infrastructure, with more than $6 billion in Commonwealth funds flowing to New South Wales and Victoria for productive infrastructure investments.
Snowy Hydro will continue to operate as an independent commercial company and, most importantly, this iconic infrastructure will remain in public ownership.
Snowy Hydro is a critical player within the National Electricity Market (NEM). The company owns and operates 5500 MW of generation capacity including the iconic Snowy Mountains Scheme.
Snowy 2.0 is a proposed expansion of the Snowy Mountains Scheme and will provide an additional generation capacity of 2000 MW, enough to power the equivalent of 500,000 homes at peak demand.
The project will help make renewables reliable, reduce volatility in energy markets and provide other services critical to the security of the NEM.
Earlier this year, the Snowy 2.0 feasibility study found that:
- the project is technically feasible – it can be built and Snowy Hydro have a base-case design and detailed construction schedule;
- the project is financially feasible as it meets Snowy Hydro’s stringent investment hurdles; and
Snowy Hydro can finance the project itself using retained earnings and borrowing.
The Snowy Hydro Board is expected to make a final investment decision on the Snowy 2.0 project later this year.
Source: Australian Government
Green hydrogen innovation hub to be built in WA
On behalf of the Australian Government, the Australian Renewable Energy Agency (ARENA) has today announced $1.5 million to fund Australia’s first green hydrogen innovation hub at Jandakot in Western Australia.
In Jandakot, ATCO will trial the production, storage and use of renewable hydrogen to energise a commercial-scale microgrid, testing the use of hydrogen in different settings and applications including in household appliances.
The $3.3 million development project will evaluate the potential for renewable hydrogen to be generated, stored and used at a larger scale. ATCO aims to assess the practicalities of replacing natural gas with hydrogen at a city-wide scale across a municipality.
Green hydrogen will be produced from on-site solar using electrolysis, fuelling a range of gas appliances and blending hydrogen into the natural gas pipeline.
The project will also build upon ATCO’s distributed energy hybrid energy system trial called GasSola which includes the installation of rooftop solar with battery storage and standby natural gas generation for nine residential sites in Western Australia’s south west.
ARENA CEO Ivor Frischknecht said the ATCO trial could lead to hydrogen being used more widely across Australia. “Green hydrogen offers opportunities to provide carbon free energy to cities and towns, while leveraging existing natural gas infrastructure,” he said.
“Along with ARENA’s R&D funding round focussed on exporting hydrogen, this project will explore the opportunities for hydrogen in Australia, which could also include the development of standards for green hydrogen production, distribution and use,” he said.
ATCO Managing Director and Chief Operating Officer Pat Creaghan said: “Securing this grant is a major accomplishment. We intend to play a leading role in the development of forward-thinking, clean energy solutions, and our Clean Energy Innovation Hub is at the very heart of those plans. The project has many exciting elements, but what truly sets it apart is the use of excess renewable energy, which would typically be lost to the system, to produce hydrogen.”
juwi Request for Proposal
Solar PV developers and land owners are invited to participate in the juwi Request for Proposal process.
juwi is seeking to acquire solar PV development sites that can accommodate large scale PV projects (>40 Megawatts) located in either New South Wales or Victoria.
juwi will consider projects in the early stages of development as well as projects which have progressed through various approvals required to construct the project and connect to the transmission network.
The online Request for Proposal form is available here: http://www.juwi.com.au/rfp/
Source: juwi Australia
Northam Solar Farm construction update
- Northam Solar Farm project on track for Q4 commissioning
- All engineering and site preparation works complete
- Array piling, tracking system commenced and the first solar modules installed
Carnegie Clean Energy Limited (ASX: CCE) is pleased to provide an update in regards to the 10MW Northam Solar Farm being constructed approximately 100kms east of Perth. The project construction works are now well advanced and the project is on track to commence commercial operations in the last quarter of the 2018 calendar year.
All detailed engineering is complete as is all procurement for major long lead items. The Northam Solar Farm comprises high quality componentry from major suppliers such as Schneider (switchboards), Risen (PV modules), ATI (solar tracking) and SMA (Inverters).
Western Power connection works to 22kVa substation feeder are on target for completion this month.
All site preparatory works (site access, fencing, gates and security, internal roads and site buildings and facilities) are complete. Piling works for the solar array are well advanced and tracking system construction has commenced.
The first solar modules have been mounted to confirm layout accuracy and fine tune construction jigs. Trenching for cable runs is also now under way. The fabrication of the solar farm’s substation is also well progressed at EMC’s Belmont facility.
Carnegie retains its 50% share of the Northam Solar Farm as part of the recently announced proposed merger of Carnegie’s EMC subsidiary with ASX-listed Tag Pacific. The Northam asset is a source of value for Carnegie to support the ongoing commercialisation of its CETO wave technology.
Source: Carnegie Clean Energy
Holistic planning integral to managing disruption in the energy sector
As the system and market operator, AEMO’s role is to deliver energy security to all Australians. We do this by putting in place plans to manage the energy transition to a low emissions future, paving the path towards a cost efficient and secure power system.
What many might not know, AEMO is the Transmission Network Service Provider in Victoria, with responsibility for the planning of the state’s transmission network. This means we work closely with infrastructure investors and large customers to make decisions on when and where new transmission network infrastructure should be built, and importantly at the lowest possible cost.
Findings from AEMO’s recently released Victorian Annual Planning Report (VAPR) indicate that a coordinated planning approach to energy infrastructure is essential to managing the tangible impacts of the energy disruption. This report is published annually and looks at the needs of the Victorian transmission network over the next 10 years, foreshadows any issues that might arise and identifies the plans we have in place to meet reliability and security over the decade.
We’ve listed the key insights outlined in the VAPR requiring an all of industry approach to deliver for Victorian consumers:
Unlocking the potential of western Victoria – AEMO has identified an ongoing increase in the number of renewable generation projects in western Victoria and this trend is forecast to continue. The level of investment has resulted in the need to upgrade the energy infrastructure in the region, to relieve congestion and support the efficient delivery of energy from these renewable energy hubs to meet future needs.
Managing voltages within operational limits at low demand – the number of solar and home battery installations continue to rise as consumers embrace being more engaged with their energy use. This has resulted in reduced demand from the grid, which means we need to look at adopting a different approach to managing the core engineering dynamics (such as voltage control) of a functioning, secure grid.
Increasing Victorian to NSW export capacity – the role of Australia’s electricity interconnectors has always facilitated the sharing of energy across states, and delivered economic benefits to consumers by doing so. Increasing the ability of the interconnector to share energy from Victoria to New South Wales will ultimately boost the economic benefits to consumers.
AEMO is in the process of undergoing several regulatory investment tests for transmission (RIT-T) to address the issues highlighted above. These RIT-Ts will allow AEMO to identify the most economic option that will deliver long-term solutions to these issues.
Against the backdrop of an aging Victorian power system and an energy transformation that is gaining pace, it is more important than ever to apply a holistic framework across the power system so that challenges are not viewed in isolation. An integrated and strategic approach that looks across the entire supply chain is necessary to enable investment decisions to be made in the long-term interests of consumers… so stay tuned for the upcoming release of AEMO’s inaugural Integrated System Plan.
ABB to upgrade historic New Zealand HVDC link
ABB, a pioneering technology leader, has received an order from Transpower New Zealand to upgrade its high-voltage direct current (HVDC) link which interconnects the transmission grids of the North and South islands.
The link is a vital element of the country’s transmission system and is used as an energy-balancing system, between the two islands. ABB Ability MACH control system, which acts as the brain or nerve centre of the link will be a key component of the upgrade.
The North Island houses more than three times the population of the South Island, which besides its picturesque landscape, offers vast amounts of hydro power. As a consequence, demand for power on the North Island is substantially higher and relies on power generated on the South Island. The more than 600-km long North-South HVDC interconnection enables efficient transmission of clean power to areas of high demand. The link also plays an important role in the New Zealand electricity market by allowing power trading between the two islands.
ABB has an historic involvement in the link. The first New Zealand link was commissioned by ABB, (erstwhile ASEA), in 1965 as one of the first HVDC transmission systems in the world. It was originally a bipolar 600 megawatt (MW) link with mercury arc valves, until the original equipment was paralleled onto a single pole in 1992, and a new thyristor-based pole was commissioned by ABB alongside it, increasing capacity to 1040 MW. The first installation was decommissioned in 2012 after 47 years in operation.
The scope of the project includes a valve upgrade of pole 2 consisting of capacitors, fiber optics and valve control units based on the latest ABB Ability MACH control system. The upgrade, to be finalized in 2020, will be carried out in a manner that minimizes impact on the grid and the power-trading market.
“This upgrade will enhance grid reliability and availability thereby increasing power security and bringing clean power to consumers.” said Claudio Facchin, president of ABB’s Power Grids division. “The project reiterates our strategic focus on service, our commitment to integrating renewables, and the role of digital technologies based on our ABB Ability based technologies and reinforces our HVDC technology leadership, as a partner of choice for enabling a stronger, smarter and greener grid.”
Maffra Solar Farm receives planning approval
Wellington Shire Council has approved a planning permit for the development of a $40m solar farm, located north of Maffra.
The project applicant, ARP Australian Solar Pty Ltd, plans to construct the farm on a 63-hectare property located at 148 Brewers Hill Road.
The development will see 125,000 solar panels installed on-site, and it is estimated the farm will produce enough electricity to power over 7,000 homes.
It will be the first solar farm located in Wellington Shire, and aligns with Council’s commitment to develop a sustainable and environmentally friendly municipality.
Development of the solar farm will also benefit the local economy, with the proponent estimating approximately 200 jobs will be created during the construction phase. A smaller number of ongoing employment opportunities will also be available once the farm is operational.
Extensive consultation was undertaken by ARP Australian Solar Pty Ltd with neighbouring properties and the local community prior to the permit being issued.
Wellington Shire Council looks forward to working with ARP Australian Solar Pty Ltd during this project, and welcomes their investment into our local economy.
Source: Wellington Shire Council
Twin Creek Wind Farm
Public comment has been invited by the federal Department of Energy & the Environment for RES Australia’s proposed 185 MW Twin Creek Wind Farm, 80km north-east of Adelaide in the Mid North area of South Australia. The proposed wind farm will include up to 51 wind turbines and a 215 MW containerised battery energy storage system. Each turbine will have a maximum height of up to 180 m (at the blade tip). They will be rated at approximately 3.6 MW each, bringing the total installed wind capacity up to around 185 MW. Approximately 15 km of 275 kV overhead electrical cabling will be installed to connect the onsite substation to the terminal substation located approximately 5 km east of Truro. The project area is ~5600 ha, but the disturbance footprint is only ~90 ha.
Mulwala Solar Farm
ESCO Pacific’s proposed 80 MW Mulwala Solar Farm was placed on public exhibition by NSW Department of Planning and Environment. The project area is located approximately 2km north of Mulwala township, within the Southern Riverina region of NSW and the Federation Council Local Government Area. The project area crosses the properties of one landholder who is engaged in agricultural and grazing activities. The total project area under assessment for this EIS is 420 hectares, while the development footprint for the solar farm will utilise up to 215 hectares. A 132 kV transmission powerline runs along the southwest boundary of the project area and connects into Essential Energy’s Mulwala 132 kV substation located south of the boundary of the project area.
The solar farm will comprise up to 300,000 modules and include a battery storage area. It is expected that the construction phase for the Project will take approximately eight months from initial site works through to commissioning and is anticipated to have a 40-year operational life span. During construction there will be up to 130 staff and contractors employed, while during operations there will be up to four staff for maintenance and monitoring activities.
Bloomberg NEF New Energy Outlook 2018
1 "50 by 50"
Cheap renewable energy and batteries fundamentally reshape the electricity system. Batteries boom means that half of the world’s electricity by 2050 will be generated from wind and solar.
2 PV, wind and batteries trifecta.
The cost of an average PV plant falls 71% by 2050. Wind energy is getting cheaper too, and we expect it to drop 58% by 2050. PV and wind are already cheaper than building new large-scale coal and gas plants. Batteries are also dropping dramatically in cost. Cheap batteries enable wind and solar to run when the wind isn’t blowing and the sun isn’t shining.
3 Coal is the biggest loser in this outlook.
Coal will shrink to just 11% of global electricity generation by 2050, from 38% currently.
4 Gas consumption for power generation increases only modestly out to 2050
Despite growing capacity, as more and more gas-fired facilities are either dedicated peakers or run at lower capacity factors helping to balance variable renewables, rather than run flat-out around-the-clock. Gas use declines dramatically in Europe, grows in China and picks up materially in India beyond 2040.
5 Electric vehicles add around 3,461TWh of new electricity demand globally by 2050, equal to 9% of total demand.
Time-of-use tariffs and dynamic charging further support renewables integration: they allow vehicle owners to choose to charge during high-supply, low-cost periods, and so help to shift demand to periods when cheap renewables are running.
The full report can be accessed here: https://about.bnef.com/new-energy-outlook/
Source: Bloomberg NEF
Ngawha power station drives increased revenue from Top Energy
- Full Year Revenue improvement from Ngawha generation
- Generation expansion approved by Board and shareholder
- Record year for safety – zero LTIs
Strong performance from the Ngawha geothermal power station in the 2017/2018 financial year further underlined the approval by the Company’s Board and Shareholder for expansion of the station. The expansion will more than double its generating capacity.
The $176 million project to add more generation capacity (28MW) at the Ngawha site will be the largest capital project in the history of Top Energy.
Chairman Richard Krogh said the Ngawha expansion would play a key role in Top Energy’s future and make a considerable contribution to the Far North community.
“Over the long term, we expect the larger Ngawha to reshape the Company’s revenue and balance sheet and add value to the Far North economy for decades to come,” he said.
Commissioning of the station will improve the security of the electricity supply and significantly reduce Northland’s reliance on the National Grid, which transports power from the south.
It is projected that 90% of the time, excess power from Ngawha will be exported on to the National Grid, to be used by consumers south of the Top Energy network.
As well as gaining resource consent approvals in July 2017, the project received Major Transaction approval from the Top Energy Consumer Trust and the Top Energy Board in November 2017. Initial construction got underway in late 2017.
Top Energy Chief Executive Russell Shaw said while the 2017/2018 financial year had been challenging, progress had been made on a number of fronts as well as the Ngawha project.
“Safety at work has been a big focus for us and our industry. We are very pleased to report no lost-time injuries during the 12-month period, a first for Top Energy,” he said.
The largest non-line investment for the Network, of $10m, was approved to deploy an additional 9MW of diesel generation as an economic alternative to improve security of supply and reliability to consumers in the Kaitaia region. This will be delivered over the next two years.
Source: Top Energy
Liverpool Range Wind Farm has been granted EPBC approval
The Liverpool Range Wind Farm has achieved federal Environment Protection and Biodiversity Conservation Act 1999 (EPBC) approval subject to the conditions specified by The Department of Environment and Energy.
The species of particular interest are the Regent Honeyeater and the Swift Parrot and impacts to their habitat will be minimised.
Wind farm powers surge in green energy at Monash
Monash University has signed an off-take agreement from the Murra Warra Wind Farm in Western Victoria to help meet its target of achieving Net Zero Emissions by 2030.
Under the deal, Monash will buy the rights to both electricity and large-scale renewable energy certificates (REC’s) generated by the Murra Warra Wind Farm.
This long-term power purchase agreement is part of the 226 megawatt (MW) first stage of the Murra Warra Wind Farm near Horsham, which is currently under construction and expected to be fully operational in 2019.
The agreement brings Monash into a Telstra led consortium of electricity buyers established in late 2017. Telstra welcomed Monash to the consortium, with James Gerraty, Head of Telstra Energy, saying the introduction of Monash strengthened the buying group.
“Adding Monash to the consortium further strengthens the buying group for the Murra Warra Wind Farm and we welcome them to the project. We’ll continue to look for ways to use our expertise in this area to help more of Australia’s businesses and organisations meet their energy challenges.”
Building and Property’s Sustainable Development Planner, Dr. Kendra Wasiluk said the University is committed to facilitating a renewable energy powered future.
“This procurement of off-site renewable energy marks an important step towards our goal of being powered by 100% renewable energy. It will reduce our carbon footprint and allow the University to manage its exposure to volatile energy prices,” Dr. Wasiluk said.
Monash’s Net Zero transformation is now well underway with more than 4000 solar PV panels installed across the campuses generating enough clean energy to power 250 average Australian households.
Over the last year over 6000 light fittings have been upgraded to super-efficient LEDs and all new buildings are eliminating natural gas. An on-site microgrid is being built at the Clayton campus to help the University control when and how energy is used and support the national electricity grid, during peak times.
“Along with ongoing improvements in energy efficiency, we are electrifying all of our buildings paving the way for Monash to be 100% powered by clean renewable wind and solar energy,” Dr. Wasiluk said.
Source: Monash University
TransGrid opens Sydney DM tender
New South Wales transmission operator TransGrid has opened a tender process to procure at least 40MW of demand management solutions in Sydney’s CBD, with a successful process to defer more than $236 million of network investment – the largest capital expenditure deferral by non-network solutions in Australian history.
The network’s Powering Sydney’s Future (PSF) project is designed to reinforce the power supply to the inner city as cables supplying the area reach the end of their technical life and need to be retired.
As part of a proposal approved by the Australian Energy Regulated earlier this year, TransGrid will defer investment in a new 330kV cable construction by procuring a variety of demand management solutions to reduce the risk of unserved energy to consumers in Sydney as existing infrastructure reaches the end of its serviceable life.
TransGrid’s Energy Services Manager, Rachele Williams, said the company had been encouraged by industry and stakeholder feedback in the lead up to the tender process.
"We have seen a very strong response from non-network proponents in our early consultation, and there’s a lot of potential for deferring the commissioning of network infrastructure through the use of non-network solutions," Ms Williams said.
"In particular we’re interested in non-network solutions to manage electricity demand to reduce risk in inner Sydney during summer heatwaves.
"We’ve seen a range of options from renewable generation, load curtailment, demand response, and battery storage solutions.
"As far as we are aware, this is one of the largest capital expenditure deferrals by non-network solutions in Australia to-date."
TransGrid’s tender process will run in two stages, allowing flexibility to procure more demand management should demand forecasts or cable conditions change.
The first stage is seeking 20MW for this coming summer, and 40MW for the next three summers to 2021/22. This stage is currently open, closing on 31 July 2018.
The second stage is a ‘top-up’ round in addition to the first stage, and will seek an additional 20-40 MW for summers 2020/21 and 2021/22. TransGrid anticipates this stage will commence in May 2020.
Prospective tenderers can find more information at https://www.tenderlink.com/transgrid/
Tilt Renewables June 2018 quarter production results
In the three months to 30 June 2018 (June 2018 quarter) group production across the Tilt Renewables portfolio was 50% above the June 2017 quarter result and approximately 7% ahead of long-term expectations.
Production across the Australian portfolio was significantly higher compared to the prior corresponding period due to the wind conditions reverting close to long term expectations and the generation achieved during the commissioning of Salt Creek Wind Farm (which was 6.9 GWh in the month of June).
The June 2018 quarter production in Australia was also slightly reduced by constraints put in place by AEMO on all South Australian non-synchronous generation (including Snowtown I and II wind farms) which resulted in approximately 10GWh of lost production during the quarter. These constraints were not in place in the June 2017 quarter.
New Zealand production was 19% above long-term expectations in the June 2018 quarter, and significantly higher than the prior corresponding period.
The June 2017 quarter production in both Australia and New Zealand was very low as a result of well below long term expected wind speeds.
Whilst this is an encouraging start to the year, the variable nature of the wind yield means the group’s full year FY19 earnings guidance remains unchanged.
Source: Tilt Renewables
Liddell Innovation Project
We believe the Hunter Region of NSW is the right place to model our industry’s transition, and if managed well, can be a template for other regions to follow.
The release of our Greenhouse Gas Policy in 2015, provided 7 years notice of Liddell Power Station’s closure.
In December 2017 we released our NSW Generation Plan to explain how to address the market capacity shortfall identified by the Australian Energy Market Operator, when Liddell closes.
AEMO has since confirmed that our plan addresses the 850MW potential market shortfall from 2022.
We recognise however that as our industry transforms, our responsibility stretches beyond reliable, affordable and sustainable energy. It also includes supporting the people and communities who have supported us.
We firmly believe, that even though Liddell as we know it today will change, the site has significant value. We have highly skilled people, land, water, transport and energy infrastructure. It is an attractive and viable site for potential development, whether for energy, industry, manufacturing, agriculture or other bespoke development.
We are committed to working with local business, industry, government, and our people to identify new opportunities, encourage economic diversification and new employment opportunities in the Hunter Region on NSW.
That’s why we have launched the Liddell Innovation Project, building on work done by the Hunter Energy Transition Alliance, that was formed in 2015 to explore job creation and economic diversification.
We are seeking proposals from businesses and organisations who see potential value in the Liddell site and resources, and who are looking for the opportunity to develop new business ideas.
Our mission is to deliver the best possible use for surplus land and resources on the Liddell site post 2022.
Additional information about the Liddell Innovation Project is available here: https://www.agl.com.au/about-agl/sustainability/rehabilitation
Source: AGLView PDF