Fast forward one month and much has changed, as the impact of Covid-19 on the global renewable energy market starts to sink in.
“Much of the 2GW utility PV solar expected to begin production 2020 in Australia is already built and going through the commissioning phase, which in many cases has been become long and complex, and in some instances heavily delayed. The two assets in question are a 255 megawatt solar farm on the border of NSW and Victoria called Sunraysia – which John Laing owns a 90.1 per cent stake in – and its 100 per cent-owned 103 megawatt Finley solar farm in NSW.
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The resulting Marginal Loss Factors (MLFs) calculated by the Australian Market Operator (AEMO) showed that several utility-scale solar projects — particularly in Northern Queensland, north-west Victoria and Far West and Central New South Wales — will face higher transmission losses this financial year because generation far from load centres exceeds the carrying capacity of existing transmission lines; and transmission upgrade can take several years in planning, approval and construction. If the MLF issue is not addressed in the short to medium term, will we see investors just too shy to invest because of the real unpredictability of the MLF regime and the compounding impact that has on the economics of projects.”.
This content is protected by copyright and may not be reused. John Laing takes £66m hit on Australian renewables due to MLFs. John Laing kicked off the sale process in January, when it mandated MacCap to test buyer appetite for the five wind and solar farms, which had a combined generation capacity of about 500 megawatts. Save my name, email, and website in this browser for the next time I comment. Please confirm you would like to remove this article from your saved articles. Register now to read this article and more for free. 30 November-4 December The firm booked a £66m write-down on its Australian renewable energy assets last year due to changes in marginal loss factors and halted new investment, but is now considering exiting the sector altogether. According to a report from Norway-based Rystad Energy, markets in countries like Australia stand to be hit the hardest, as their currency exchange rates take a pounding in the global slowdown – adding another layer to an already shaky investment environment.
“Developers already appear to have cooled on orders that were otherwise imminent,” said report author and Rystad senior vice president Gero Farruggio of Australia’s renewable energy market. Only logged in subscribers of this site will be able to access the shared article. “Work will continue on these projects.
Sophie is editor of One Step Off The Grid and deputy editor of its sister site, Renew Economy. in the UK as having said that the US renewable-energy sector showed opportunities, and that the industry’s long-term future in Europe looks assured as state subsidies are phased out, but that new investments in renewables in Europe and Australia had been “paused, until we understand what the future is”.
UK-listed firm says changes to Marginal Loss Factors produced ‘unfavourable results’ for three Australian renewables assets. Natalie Filatoff has been a journalist and editor for more than 30 years, working successively in the areas of computing, the arts, popular culture and health. John Lang should take them up on this.
Recent solar-industry conferences have emphasised the mismatch between state and territory government ambitions for transitioning to a renewably sourced electricity supply; and the pace of transmission upgrade, or of innovation, that would allow efficient connection of the number and distribution of utility-scale solar and wind generators required to replace coal generation in the grid. Several commentators, including Simon Corbell, Chief Advisor at Energy Estate and a former Minister for the Environment in the Australian Capital Territory, have cautioned that recent gains in investor understanding and enthusiasm for renewable energy projects could be reversed by lack of national infrastructure planning, and the resulting effects of congestion on the grid.
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