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Released September 30, 2014 | PERTH, AUSTRALIA
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Researched by Industrial Info Resources Australia (Perth, Australia)--Industrial Info is tracking $4.9 billion worth of solar power projects in Australia, with more than 34 active projects in various stages of development. Sustained uncertainty about the country's key policies has been a major detriment to this sector.
View Project Report - 300025425 300086528 300026158
Solar-derived electricity in Australia is a recent phenomenon. The nation saw the installation of more than 3.2 gigawatts (GW) of photovoltaic (PV) power by end of first-quarter 2014. The PV industry installed 700 megawatts (MW) in the preceding 12 months, which was a result of the support from the federal government through its mandatory Renewable Energy Target (RET).
However, uncertainty surrounding the future of the RET has drastically reduced investments in renewable energy projects. There have been very few new proposals since the government announced earlier this year that it would review the RET.
Out of the nearly $5 billion in solar projects in Australia, the future of 24 projects, worth $4.36 billion, depends on the future of the RET, which could be weakened or cancelled.
Of the very few projects that are progressing toward construction, the 56-megawatt (MW) Moree Solar Farm in New South Wales recently secured $101.7 million in financial support from the Australian Renewable Energy Agency (ARENA). Fotowatio Renewable Ventures Australia Pty Limited (Sydney, Australia) is developing the project.
Industrial Info is tracking $500 million worth of solar projects that are under construction in Australia. AGL Energy is constructing the 102-MW Nyngan Solar energy project in New South Wales, which is the largest solar project in the Southern Hemisphere, and the 52-MW Broken Hill Solar project, which is located in the same region.
Australia's first base-load solar project, the Collinsville Solar Thermal power station in North Queensland, was abandoned in July due to the ambiguity surrounding the government's policy framework. Ratch Australia (Brisbane, Australia), the company behind the project, said it is difficult to develop such huge projects without government support.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
View Project Report - 300025425 300086528 300026158
Solar-derived electricity in Australia is a recent phenomenon. The nation saw the installation of more than 3.2 gigawatts (GW) of photovoltaic (PV) power by end of first-quarter 2014. The PV industry installed 700 megawatts (MW) in the preceding 12 months, which was a result of the support from the federal government through its mandatory Renewable Energy Target (RET).
However, uncertainty surrounding the future of the RET has drastically reduced investments in renewable energy projects. There have been very few new proposals since the government announced earlier this year that it would review the RET.
Out of the nearly $5 billion in solar projects in Australia, the future of 24 projects, worth $4.36 billion, depends on the future of the RET, which could be weakened or cancelled.
Of the very few projects that are progressing toward construction, the 56-megawatt (MW) Moree Solar Farm in New South Wales recently secured $101.7 million in financial support from the Australian Renewable Energy Agency (ARENA). Fotowatio Renewable Ventures Australia Pty Limited (Sydney, Australia) is developing the project.
Industrial Info is tracking $500 million worth of solar projects that are under construction in Australia. AGL Energy is constructing the 102-MW Nyngan Solar energy project in New South Wales, which is the largest solar project in the Southern Hemisphere, and the 52-MW Broken Hill Solar project, which is located in the same region.
Australia's first base-load solar project, the Collinsville Solar Thermal power station in North Queensland, was abandoned in July due to the ambiguity surrounding the government's policy framework. Ratch Australia (Brisbane, Australia), the company behind the project, said it is difficult to develop such huge projects without government support.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
