The Energy Minister of the Government of Victoria has announced that the Australian state's first large-scale renewable energy auction attracted bids amounting to over 3,500 MW generation capacity. This is over five times the capacity that the government planned to allocate.
Energy Finance & Investment News in Oceania
The Minister for State Development, Manufacturing, Infrastructure and Planning of the state government of Queensland has signed an Agreement for Lease with Acciona for 1,250 hectares of state-owned land at Aldoga, Gladstone region, on which the company will install a 265 MW solar farm.
The Minister for Planning of the Government of New South Wales, a state in the south-east of Australia, has approved Epuron's plans to construct the Liverpool Range Wind Farm, which will consist of up to 267 wind turbines generating approximately 1,000 MW, making it Australia's largest wind farm.
Neoen has secured project financing for the Bulgana Green Power Hub project, a 194MW wind farm and 20 MW battery storage facility to be constructed near Stawell in Victoria, Australia. The total investment of the project is AUD350 million (US$269.91 million).
The state government of South Australia has announced plans to finance the development of a 50MW hydrogen electrolyser that would be powered by a new wind and solar complex at Crystal Brook, north of Adelaide. The estimated cost of the project, known as the Hydrogen Superhub is AUD600 million (US$464.3 million).
Renewable Energy Systems (RES) has announced that the Murra Warra Wind Farm project in the Australian state of Victoria has achieved financial close, enabling the commencement of construction of Stage One. Stage One comprises 61 turbines (226MW nameplate capacity), to be located approximately 30km north of Horsham and expected to be fully operational by mid-2019.
The federal government of Australia has announced that it will acquire the stakes of the governments of New South Wales and Victoria in Snowy Hydro Limited, the owner and operator of more than 5500 MW of multi-fuel generation capacity across New South Wales, Victoria and South Australia, including the 4100 MW Snowy Mountains Scheme - a hydropower project that produces around 32% of all renewable energy available to the eastern mainland grid of Australia.
The AMP Capital Diversified Infrastructure Trust (ADIT) and AMP Capital Core Infrastructure Fund (CIF) have attracted their first New Zealand investors, reflecting growing interest locally in the asset class.
The Government of South Australia has awarded AUD8.7 million (US$6.87 million) in grants to four companies planning to develop pumped storage hydro projects in the state, through its Renewable Technology Fund.
Innogy SE has announced the purchase of two large-scale solar development projects from Overland Sun Farming in Australia, with a combined capacity of more than 460 MW. The Limondale and Hillston solar projects are located in New South Wales.
Australian generation and utility company AGL has announced plans to issue Requests for Expressions of Interest for 500 MW wind projects in an attempt to replace the power produced by its Liddell coal-fired power plant, which will be shut down in 2022.
Equis Energy has achieved financial close on its 127 MW Tailem Bend solar project in South Australia, located 100km south‐east of Adelaide. The estimated total investment is AUD200 million (US$157.17 million).
Mitsui and Co. has submitted non-binding and conditional proposal to Australian oil and gas producer AWE Ltd, for all of its shares, at AUD0.95 (US$0.75) each, which values the company at about AUD594 million (US$470.5 million). This is the third takeover bid that AWE has received in two months.
Canadian Solar Inc, an international solar power company, has entered into an agreement with Photon Energy NV to co-develop five utility-scale solar power projects, with a total capacity of 1.14 GWp. The projects are located in New South Wales, a state in the south-east of Australia.
Neoen Australia has secured financing from the Clean Energy Finance Corporation (CEFC) for its 150MW Coleambally solar farm in New South Wales, in the south-east of Australia. Once completed, it will be the state's largest solar farm.
Canadian Solar has announced that the Oakey 2 solar farm in Queensland, Australia has reached financial close with the Clean Energy Finance Corporation (CEFC) for a facility commitment of approximately AUD55 million (US$42.8 million).
Snowy Hydro’s independent Board of Directors has approved the Snowy 2.0 feasibility study, and for further work to be undertaken for the project to progress to a final investment decision in 2018.
Goldwind Australia, a subsidiary of Chinese wind turbine manufacturer, has secured nearly AUD700 million (US$536 million) project financing for construction of Australia’s largest wind farm, the 530-MW Stockyard Hill Wind Farm, located in Western Victoria.
Offshore Energy Pty Ltd. (Offshore Energy) and Copenhagen Infrastructure Partners (CIP), on behalf of the fund Copenhagen Infrastructure III K/S (CI III), announced that they have entered into a partnership regarding the continued development of Australia’s first offshore wind farm, the Star of the South. The project has so far been developed solely by Offshore Energy.
The Minister for Energy, Environment and Climate Change Lily D’Ambrosio has opened the competitive reverse auction that will deliver up to 650 MW of large-scale renewable energy for Victoria.