In Australia, starting with wind farm components, the completion of a new $ 1 billion energy hub in South Australia (SA) will dramatically expand our solar, wind and battery portfolio.
Two hours north of Adelaide, the state capital, Goyder Renewables Zone, has begun early work on the first phase of the hub. The 412 MW (megawatt) wind farm will be the largest in SA and the second largest in Australia as a whole. 2024.
This will increase the renewable energy portfolio of French-based developer and owner Neoen to over 2,500 MW in Australia. That’s more than one-eighth of Australia’s current solar, wind and battery capacities combined.
The array will include 75 wind turbines supplied by GE Renewable Energy, a division of General Electric, also based in France.
Wind farms form the first chapter of a larger energy hub that is not yet complete. Neoen has already been approved for a zone with a total of 1200 MW of wind, 600 MW of solar and 900 MW of battery storage capacity. The estimated cost of capital is $ 3 billion.
“We are pleased to begin building the first stage of Goyder Renewables Zone, Neoen’s most competitive giga project,” said Louis de Sambucy, Managing Director of Neoen Australia.pdf).
“We look forward to building on this strong foundation and adding solar and batteries in the future to ensure that we provide 24/7 renewable energy.”
Funding for the first part of the project was supported by a power purchase agreement (PPA) signed between Neoen and the Australian Capital Territory (ACT) government. The agreement paid a prepayment to ensure 100 MW of electricity output over 14 years.
ACT’s Minister of Climate Change and Sustainability Shane Rattenbury said the decision underpins the region’s climate change ambitions, including maintaining 100% of electricity demand through renewable energy. rice field.
“Canberra is a leader in climate change, with a 100% renewable energy-powered economy creating a healthier and more sustainable future. Renewable energy generators like Neoen. Working with us was important to achieving Canberra’s renewable power goals, “says Rattenbury.
The influx of renewable energy and gas generation is projected to lower consumer electricity prices in most Australian states and territories. However, ACT’s decision to maintain emission targets through PPA will in turn increase electricity prices in ACT’s only jurisdiction.
This transaction was only possible after the announcement of the $ 100 million energy grid interconnect between SA and New South Wales (NSW). This helps supply gas and coal-based electricity to the SA when renewable energy levels drop. The opposite is true for higher levels.
The SA government, the country’s most ambitious developer of renewable energy sources, estimates the overall cost of capital for the project at $ 3 billion.
“Congratulations to Neoen for this important milestone in the Goider South Project, an important moment in the South Australian clean energy transition,” said SA Energy and Mining Minister Dan Van Holst Perekhan.
SA is at the forefront of new solar, wind and battery projects in Australia, including hosting the world’s largest Tesla Big Battery at the time of construction.
The state continues to manufacture larger batteries, and in some cases renewable energy alone exceeds 100% of energy demand.