BP has completed the concept development phase study of a green hydrogen project in Kwinana, Western Australia, and it has identified two viable base-case scenarios for production. The H2Kwinana energy centre will be able to deliver green hydrogen for both the domestic market and exports. The completion of the feasibility study was announced by the Western Australian government.
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Snowy Hydro Limited, an Australia-based power producer and retailer, has signed a power purchase agreement with TagEnergy, an energy storage developer, for a 756 MW wind farm project located in Victoria. The agreement is the first PPA for the project of Golden Plains’ 1.3 GW wind farm. The project is intended to establish the Commonwealth’s largest wind turbine complex.
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The Northern Territory (NT) government has inked a two-year MoU with Larrakia Energy (a joint venture initiative between Larrakia Development Corporation and Perth-based resource and renewables company Progressive Green Solutions), and Korea Midland Power (Komipo) to set up a large-scale 300 MW solar power project on Darwin harbour near the Middle Arm precinct in Australia.
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During the 14th clean energy ministerial and 8th mission innovation meeting in Goa, India, the UK and Australian governments have announced a joint initiative for green hydrogen projects. The two countries will provide funding to Australian and British companies to collaborate on research, development, or demonstration initiatives involving green hydrogen.
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Brookfield Asset Management (BAM) has signed a MoU with Reliance Industries Limited (RIL) to explore opportunities for renewable energy and decarbonisation equipment production in Australia. The MoU seeks to reduce the risk and accelerate the country’s energy transformation by enabling the country to locally manufacture clean energy technology, such as PV modules, long-term battery storage, and wind energy components.
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Inpex, a Japanese oil and gas exploration and production company, has agreed to acquire a 50 per cent stake in the Australian operations of Italian utility Enel. Inpex will purchase a stake in Enel Green Power Australia and Enel Green Power Australia Trust (collectively EGPA) as part of the acquisition. These two businesses are wholly owned by Enel Green Power, a division of Enel. With debt of about €140 million, the acquisition values EGPA at about €400 million.
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Ocean Winds, a 50-50 joint venture (JV) between Spanish renewables firm EDP and French energy giant Engie, has submitted an application to build offshore wind projects off the coast of Victoria, Australia. Ocean Winds, through its bidding company High Sea Wind, submitted three applications in Victoria’s Gippsland region for wind projects totaling about 4 GW of renewable energy capacity.
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The Queensland government in Australia has started construction on the 252 MW Wambo wind farm.
The project, which is situated in the Western Downs region, was officially launched by Queensland’s Minister for Energy, Renewables, and Hydrogen, Mick de Brenni, in the presence of representatives from Cubico Sustainable Investments and Stanwell. Wambo wind farm is a joint venture between the two companies. The wind farm will be equipped with 42 wind turbines, and the project supports the state government’s target of 50 per cent renewable energy by 2030.
AGL, DIRECT Infrastructure, Mainstream Renewable Power, and Reventus Power have joined forces to submit an application for the construction of a 2.5 GW offshore wind farm in Australia’s Gippsland region. The Bass Strait, the first offshore wind zone approved by the Australian government, will act as the site for the proposed offshore wind project. Reportedly, the 15,000 sq km zone will expand employment prospects and produce 10 GW of renewable energy annually.
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Australia and the US have announced a bilateral agreement to collaborate on legislation to aid the green energy transition in both countries with a new compact. The Climate, Critical Minerals, and Clean Energy Transformation Compact will see the two countries adopt shared energy goals and policies. This will in effect allow Australian green businesses to benefit from subsidies and protections provided to US companies under the Inflation Reduction Act.
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RWE Renewables Europe & Australia, a subsidiary of German electric utility RWE, has won a competitive tender to build a 50 MW/400 MWh battery energy storage system in New South Wales, southeast Australia. In Balranald, New South Wales, the battery will be installed next to the 249 MW Limondale solar farm, which is owned by RWE. Limondale has 770 hectares and has been in operation since 2021. RWE expects to announce the project’s final investment decision by May 2024.
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Since the IEA’s last review in 2018, Australia has significantly raised its climate ambitions, with the 2022 Climate Change Act doubling the target for emissions reductions by 2030 and setting the goal of reaching net zero emissions by 2050. To match these increased ambitions, Australia is seeking to update its existing strategies, starting with the preparation of a new emissions reduction plan for 2050. Such efforts would support both climate and energy security goals.
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BlueFloat Energy, a Spanish renewable energy company, has announced its plans to build Eastern Rise, a 1.7 GW floating offshore wind farm in Australia. The floating wind farm will be built in a proposed offshore wind zone in the Hunter Region, which had been announced by Climate Change and Energy Minister Chris Bowen. Reportedly, Eastern Rise is expected to be completed over a period of seven years and will create several local jobs in its development phase.
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Wirsol Energy and its assets have been purchased by Gentari Renewables Australia from the German renewables group Wircon. Wirsol Energy, which entered the Australian market in 2017, owns and operates renewable energy and storage projects in New South Wales, Victoria, and Queensland. It has 422 MW of operational solar and storage projects and nearly double that amount in development.
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Ingka Group, the Swedish holding company that owns the majority of IKEA stores worldwide, has acquired a 15 per cent share in the Golden Plains wind farm in Victoria, Australia. Reportedly, the company also plans to engage in green energy projects in South Korea, China, Japan, and India. TagEnergy is constructing the Golden Plains facility, and the first phase of the project, with a 756 MW capacity, has completed financial close.
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Amazon has recently announced that in 2022 it grew its renewable energy capacity by 8.3 GW through 133 new projects in 11 countries. This brings Amazon’s total portfolio to more than 20 GW—that could generate the amount of energy to power 5.3 million U.S. homes—across 401 renewable energy projects in 22 countries. With these continued investments, reportedly, Amazon set a new corporate record for the most renewable energy announced by a single company in one year.
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Australia and the Netherlands have signed a memorandum of understanding (MoU) to collaborate on the construction of a green hydrogen supply chain from Australia to Europe via the Port of Rotterdam. During Australia’s Minister for Climate Change and Energy, Chris Bowen’s visit to Europe, the MoU was signed between him and the Netherlands Minister for Climate and Energy. This expands on existing agreements between many Australian jurisdictions and the Dutch port.
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The government of Australia has announced rules for the Townsville Region Hydrogen Hub programme, which will invest A$70 million in the establishment of a hydrogen hub in Townsville, North Queensland. The area is set to receive an investment of A$140 million, including matching funds, to produce renewable hydrogen for local use or export.
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Shell Energy has acquired the development rights to a 500 MW battery energy storage system (BESS) project in Australia. Under the terms of the agreement, Shell will be granted the right to build, own, and operate the Wallerawang 9 Battery project (FID). The former Wallerawang Power Station site near Lithgow, New South Wales (NSW), will be used for the project’s construction.
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The Australian Government recently conducted a public consultation on national electric vehicle (EV) strategy and sought inputs on introducing mandatory national vehicle fuel efficiency standards for new light-duty vehicles (LDVs). This is a key step and we applaud the government for taking it. Adopting fuel efficiency or carbon dioxide (CO2) emission standards will help promote EV sales and help Australia to catch up with leading vehicle markets in combating climate change.
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