Australia: a New Promised Land for Renewables

The vastness of the territory, mostly uninhabited, and its wealth of natural resources make the “Land of the Kangaroo” the ideal country for experimenting with alternative energy systems. The installed capacity in renewables in Australia is equal to 18 GW and allows for the production of 17,500 GWh, or 17.3% of the country’s total energy supply. Electricity generated from green sources satisfies the consumption of 7 homes out of 10 and, when the wind and solar plants built in 2016 and 2017 are fully operational, it will power 90% of Australian households. These data come from the Renewable Energy Index for the country, published in December 2017 by Green Energy Markets. The Green Revolution “Down Under” In 2015 the Australian government amended previous policies by introducing the current renewable energy target of 33.000 GWh (equivalent to around 23.5% of energy consumption) to be reached by 2020 and continued up to 2030. Various initiatives were launched, like public tenders and competitive bidding, aimed at increasing the production of renewable energy. In March 2016 the Australian prime minister, Malcolm Turnbull, announced the establishment of a fund dedicated to green innovation, the Clean Energy Innovation Fund, with a billion Australian dollars (about 760 million US dollars). "We are promoting innovation and new economic opportunities, improving our productivity, protecting our environment and reducing emissions to tackle climate change." Malcom Turnbull EGP Shines under the Australian Sun The abundance of sun, wind and deserts make Australia a very interesting country for Enel Green Power, which, through a joint venture with the Dutch Infrastructure Fund, has started the construction of Bungala Solar One and Two. "The 137.5-MW plant, near Port Augusta, in the southern part of the country, is the first phase of the broader Bungala Solar photovoltaic project, which will have a total capacity over 275 MW plus an option for an additional 100 MW." The plant will extend over an area of about 300 hectares and will include about 420,000 polycrystalline photovoltaic modules on structures equipped with mono axial solar trackers, which orient the panels based on the sun’s course from east to west, thus generating a greater quantity of energy compared to photovoltaic modules on fixed structures. The electricity produced by Bungala Solar will be fully marketed as part of a long-term power purchase agreement (PPA) with Origin Energy, an Australian utility. Growth without Borders Following Europe, America, Asia and Africa, we’re going to “conquer” a new continent. Our new chapter “down under” is a great achievement for EGP and responds to a two-sided objective: development of renewables and diversification on international markets. “The acquisition of Australia’s largest photovoltaic project brings us to a new continent and is an important step forward for the Group”, said Francesco Starace, CEO of Enel. "We are proud to offer our experience to help with the development of renewables in Australia through Bungala Solar, the country’s largest “ready to build” solar park." Antonio Cammisecra, CEO of EGP This project represents the first step of a growth strategy in a country that boasts a large wealth of natural resources and a capacity for renewables that will increase in the coming years.

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Australia: a New Promised Land for Renewables

Australia: a New Promised Land for Renewables