The ACT’s first wind energy reverse auction has delivered low clean power prices and enough renewable energy to provide for approximately 33% of Canberra’s residential electricity needs says the Territory’s Minister for the Environment, Simon Corbell.
The three successful wind farm projects represent a $50 million direct investment into the ACT’s economy and broader economic benefits exceeding $240 million.
These facilities represent 200 megawatts of renewable energy generation capacity combined, enough to power 107,000 Canberra homes and to avoid 580,000 tonnes of carbon emissions each year.
The winners:
Ararat Wind Farm (Victoria) – 80.5 megawatts, $87.00 per megawatt hour
Coonooer Bridge Wind Farm (Victoria) – 19.4 megawatts, $81.50 per megawatt hour
Hornsdale Wind Farm (South Australia) – 100 megawatts, $92.00 per megawatt hour.
“This is not just about sourcing renewable energy; this project will secure Canberra as the renewable energy capital, providing jobs and economic benefits for all Canberrans,” said Minister Corbell. “Our location, our policies and the expertise of local small businesses and premier research institutions, make the ACT the leading jurisdiction in the nation for renewable investment.”
In addition to the 200 megawatts of wind energy, the 40 megawatts of large-scale solar the territory is investing in plus the existing 44 megawatts of residential solar installations means renewables will be supplying 80% of all Canberra’s household electricity needs.
The Clean Energy Council says the announcement was a bright spot for the wind industry in what’s become an increasingly gloomy state of affairs due to the ongoing uncertainty concerning Australia’s Renewable Energy Target.
“The three winners of the ACT Government’s wind energy reverse auction are some of the first new wind projects to be announced since the Federal Government commenced its RET review almost a year ago,” said Clean Energy Council Chief Executive Kane Thornton.
“The RET review has frozen renewable energy investment, put more than 21,000 jobs in jeopardy and hung $10 billion in existing large-scale investment out to dry.”
According to a Reuters article, around 44 Australian wind farm projects have been shelved so far. Reuters reports Infigen and Pacific Hydro have effectively suspended Australian operations, GE Australia & New Zealand says investment will only occur once confidence in the policy environment has been restored and Acciona Group has frozen $750 million in investment pending the outcome.
