Project Update Week ending 5 June 2020

Jemena calls for renewable gas certification to unlock Australia’s bioenergy potential 29 May Leading energy infrastructure company, “In addition, we also have the capacity to Jemena, has called for a national approach to unlock our bioenergy sector. Well established green accreditation for renewable gases, such in Europe, bioenergy is a proven ‘here and as biomethane and hydrogen, as part of its now’ fuel source and can help Australia submission to the Australian Renewable address the energy trilemma of affordability, Energy Agency (ARENA) Bioenergy Roadmap reliability and sustainability. today. “Renewable gases have a huge role to play in A certification system would enable lowering emissions in sectors such as heavy customers to purchase verified and accredited transport, manufacturing and our gas zero emission gas as is currently the case for networks.” renewable electricity. Time to unlock Australia’s bioenergy potential Jemena Executive General Manager, Gas Bioenergy is derived from plants, animals, and Distribution, Dr Jennifer Purdie said as their by-products and residues such as Australia looks to recover from the economic agriculture, farming, human and forestry impacts of COVID-19, renewable gas could wastes and remains. Converted into unlock regional jobs, business growth, biomethane, it can provide reliable and enhance energy security, and be injected into responsive carbon neutral energy for homes the network with no impact to customer and businesses. appliances. According to Bioenergy Australia, the total “Australia has the capacity to be a world contribution of the biofuels industry to the US leader in zero emission gas. Several green economy in 2016 was $459 billion, employing hydrogen gas trials have commenced for 4.65 million direct and indirect workers. It’s domestic and international markets across the estimated the Australian biofuels industry nation, including our own Western Sydney could provide 250,000 jobs, mostly in regional Green Gas project, in which the first areas. electrolyser in will be installed later this year. This technology “In addition to employment opportunities, utilises solar and wind power to create carbon there are clear benefits for customers who neutral hydrogen gas, which is stored in the want green energy. We estimate that there Jemena Gas Network, making it accessible to are approximately 30 petajoules of homes, business and the vehicle industry,” biomethane gas in close proximity to the said Dr Purdie. Jemena Gas Network alone, enough to supply all current New South Wales natural gas residential customers and support the NSW

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Government’s drive towards zero emissions Stockyard Hill Wind Farm by 2050,” Dr Purdie said. commences commissioning Bioenergy Roadmap phase Jemena’s submission to ARENA’s Bioenergy 1 June Roadmap has been delivered, along with a Stockyard Hill Wind Farm has celebrated a letter of support signed by members of the significant milestone with the first wind sector as well as industry associations and turbine connected to the Victorian groups, representing thousands of large and transmission network and generating small businesses across Australia. electricity.

“Australia is uniquely placed to benefit from Stockyard Hill Wind Farm, the largest wind the renewable gas industry. The energy farm in the Southern Hemisphere, has industry can work collaboratively with the installed 90 Goldwind 3S turbines to date of bioenergy and hydrogen sectors to store the 149 total. In an important step towards natural gas, and renewably-generated gases full operation, the first of the project’s three in existing infrastructure. The Jemena Gas substations has been energised, enabling Network for example, can act like a giant turbines to be commissioned and energy battery and bring renewable gas to more than generation into the national electricity grid for 1.4 million customers for cooking, heating and the first time. The remaining two substations hot water. are expected to be fully commissioned and energised in June. “In our submission, we have committed to leading the development of a certification Goldwind Australia’s Managing Director, Mr system to recognise biomethane as a John Titchen said this was a significant renewable and net zero emission energy milestone for the project which once fully source. Achieving this will kick start projects operational will power more than 425,000 that can go to market quickly, which will be Victorian homes. important as we get back on our feet following the Coronavirus pandemic,” Dr “The project team and its contractors have Purdie said. worked tirelessly to achieve this milestone,” Mr Titchen said. Source: Jemena “The project’s size has at times proved challenging during construction, not only in PROJECT NEWS constructing the wind farm infrastructure, but We need your help to help us also constructing the 75-kilometre 132 kV multi duplex powerline and the Haunted Gully build the Terminal Station, which connects the project We need a workforce of over 700 people. into the national energy grid.”

If you want to express interest in working with “The highly focused team has worked us to help build the Cultana Solar Farm or collaboratively with project stakeholders to you're a business looking to supply services or overcome these challenges and remain on goods, please fill in the form below. schedule. The team has adapted well to managing risk during this difficult time and https://www.simecenergy.com.au/en- continues to make good progress.” au/projects/cultana-solar-farm/help-us-build- cultana/ Construction of Stockyard Hill Wind Farm commenced in May 2018 and has seen more than 400 employees and contractors on site

Page 2 (Click on relevant project links to go to online Project Database) during stages of construction, including many the consulting engineers on automation and local Australian companies. electrical matters. Adjacent to the Wodonga Wastewater Goldwind and investment partner Nebras Treatment Plant (WWTP) on Old Barnawartha anticipate the project will be fully operational Rd, West Wodonga, the project will comprise in late 2020. a 3 MWp ground-mounted solar system and associated infrastructure, with high voltage Source: Goldwind Australia (HV) upgrade works and off-grid capabilities.

The WWTP is a complex project with many Photon Energy wins tender for engineering challenges incorporating a capacity of 3 MWp of solar PV, with existing 3 MWp hybrid solar power diesel generation enabling waste water plant in Australia treatment to continue in the event that the facility is islanded off-grid. The breakdown of 1 June work to be done includes elements of solar Photon Energy N.V. (WSE: PEN, the ‘Group’ or array, high voltage reticulation, systems ‘Company’) announces that Photon Energy integration and SCADA, as well as civil, Engineering Australia Pty Ltd. – the Group’s structural and mechanical works. Sydney-based subsidiary dedicated to engineering, procurement and construction The project is expected to deliver significant (EPC) services – has been awarded a contract benefits to communities in the region, both to deliver a 3 MWp power plant in Wodonga, through the reduction of grid-drawn power . consumption to the Waste Water Treatment

Plant site and via the significant economic The contract was awarded following a stimulus to the Victorian and regional competitive tender process run by utility economies. company North East Water (NEW), owner and operator of the Wodonga Wastewater The tendered contract value is AUD 7.284 Treatment Plant. NEW provides water and million. The project is currently in the sewage services to 39 towns and cities across contract-finalisation phase, with construction north-east Victoria, serving 39,000 people in expected to commence in the coming months. Wodonga alone.

The evolving situation with COVID-19 is being ‘Winning this tender is a significant milestone carefully monitored and necessary steps will and together with our success on the Lord be implemented to ensure the safety of all Howe Island project is a testimony to our personnel during project delivery. capabilities. We look forward to embarking on similar or more complex projects in the near Source: Photon Energy future that will help Australia reduce its dependence on fossil fuels,‘ said Michael

Gartner, CTO of the Group and Managing Director of Photon Energy Australia.

Photon Energy will act as principal contractor in the design, construction, and commissioning of the system, and will subcontract the electrical installation and HV upgrade works component to local contractor Watters Electrical and supplier Wilson’s Transformers. Boschetti Industries will act as

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Australian businesses seeking EnergyConnect has been identified as a priority project in both AEMO’s Integrated work on major transmission System Plan and the NSW Government’s project EnergyConnect Transmission Infrastructure Strategy. 2 June More than 850 NSW and Australian TransGrid will deliver EnergyConnect with a businesses have registered their interest in lead contractor, and local businesses are working with TransGrid on one of the nation’s encouraged to submit an Expression Of largest energy infrastructure projects Interest (EOI) via the Industry Capability EnergyConnect. Network. Work packages include civil engineering, quarry products, haulage, TransGrid and ElectraNet will soon lodge a logistics, traffic management, concreting, Contingent Project Application with the fencing and workforce accommodation. Australian Energy Regulator (AER) for final project approval. EnergyConnect will also look to set new benchmarks in ATSI workforce participation, If approved, the project would provide an with Indigenous-owned businesses expected opportunity for businesses across a number of to play a substantial role in project delivery. areas to be involved in the transmission project, which is due to commence EnergyConnect is due to be fully construction in late-2021. commissioned by 2023. For more information about Project EnergyConnect go to: “We are encouraging Australian businesses to http://www.projectenergyconnect.com.au get involved in EnergyConnect, a major infrastructure project being developed by Interested businesses should submit an EOI TransGrid and ElectraNet,” said Executive via the Industry Capability Network at: Manager of Major Projects Sean McGoldrick. https://gateway.icn.org.au/project/4521/ener gyconnect The proposed development of the 900 kilometre electricity interconnector will Source: TransGrid enable the sharing of energy between NSW, Victoria and , lower wholesale energy costs and support growth in Renewable Integration Study renewable energy generation. online workshop “Energy Connect will provide around 1500 AEMO is hosting an online workshop for jobs and deliver an economic benefit to NSW stakeholders to discuss the findings and of $4 billion. More than 850 businesses have recommendations in the Renewable already registered their interest and we hope Integration Study (RIS) 10am Thursday 11 to see more before the end of the month,” he June (AEST). said. Registration link here. The Australian Energy Regulator (AER) approved the Regulatory Investment Test for Check out our technical overview webinar and Transmission (RIT-T) for EnergyConnect in RIS report prior to the workshop here. January. If approved, it will be built near identified Renewable Energy Zones, to allow Source: AEMO future renewable energy projects to connect to the grid.

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Emission trading reforms Governments left the scheme too weak to have any real impact on reducing our another step to meeting emissions. climate targets 2 June “A good example of this is the fact that until The Emissions Trading Scheme (ETS) will now the ETS has been a cap and trade system finally start to cut New Zealand’s greenhouse without a cap. This has meant that emissions gas pollution as it was originally intended to, permitted under the scheme were, in effect, because of changes announced today by the unlimited. I am delighted to say we are finally Minister for Climate Change, James Shaw. changing that.

The changes include a limit on the total “The changes I have announced today will emissions allowed within the ETS, rules to better translate our emission reduction ensure emission prices are more predictable, targets into a predictable emission price, and a provisional emissions budget for the which will incentivise our biggest polluters to 2021-2025 period. invest in the transition to a clean, climate- friendly economy. “A reformed ETS will be one of New Zealand’s most efficient and cost-effective tools for “As a complete package, these reforms take a reducing emissions and ensuring we leave big step towards a safer future. New behind a safe planet for our children and Zealanders now know what our emissions grandchildren. limit is for the first half of this decade, and the contribution the ETS will make towards “Our announcement today will give business keeping us below that level. and foresters the certainty they have been asking for – as well as reassuring New “We have also put everything in place to Zealanders that there is a clear pathway make sure businesses covered by the ETS can towards meeting our climate targets,” James play their part in tackling the climate crisis in Shaw said. fair and affordable way,” James Shaw said.

Today’s announcement sets out: Source: NZ Government - The amendments the Government is making to the Climate Change Response (Emissions PROJECT NEWS Trading Reform) Bill, which will better Newstead Solar Farm incentivise emissions reductions Renewable Newstead (RN) submitted a - The changes that are necessary to make the planning application for its planned up to 10 ETS work as it should. These changes will be MW Newstead Solar Farm. Planning implemented through regulation once the Bill consultant Energy Forms has been working is law and include the cap on the total with the RN committee to compile data and emissions allowed in the ETS, and rules for the information on land at Captain’s Gully that auctioning of emission units has been selected for the solar farm. Factors being considered include the location of the “We know that meeting New Zealand’s land to existing electricity infrastructure, climate targets is a real challenge, but it is topography, various planning overlays and the becoming more and more achievable because current and future use of the land for farming. of the policies our Government is putting in Potential sites were assessed after Newstead place. landowners responded to RN’s call for land via an expression of interest in 2019. “An effective Emissions Trading Scheme is a key part of what needs to be done. Unfortunately the rules set by previous

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SwitchDin secures $5 million in SwitchDin’s ability to deliver real innovation to the market”. capital from Q CELLS to accelerate global expansion Hee Cheul (Charles) Kim, CEO of Q CELLS, said, “Q CELLS is committed to quality, reliability and R&D and being a leader in the solar industry. 2 June Australia has been at the forefront of SwitchDin has secured a A$5 million developing the DER market backed by a long investment from Q CELLS, a renowned total history of organic solar growth. Our energy solutions provider in solar cells and investment in SwitchDin reflects our ambition modules, energy storage, downstream project to deliver a total clean energy solution business and energy retail. together with a partner that has a proven track record which we believe will bring This is the first Australian energy software confidence to our customers.” company in which Q CELLS has invested. The funding will accelerate the development of Q CELLS has been actively expanding its PV SwitchDin’s technology and business in capabilities to energy storage to provide a Australia and Europe and broadens comprehensive clean energy solution for their opportunities for collaboration on projects customers. It will incorporate SwitchDin’s between utilities and manufacturers. The Droplet gateway and energy management investment furthers Q CELLS’ ambition solution, and the Stormcloud orchestration towards becoming a leading total energy platform into their newly launched residential solutions provider. energy storage system, Q.HOME+ ESS HYB-G2 (Q.HOME). SwitchDin is paving the way for a grid led by renewables to help solve one of the greatest SwitchDin’s solar and battery vendor-agnostic roadblocks faced by the energy system – platform supports product integrations with visibility and control of distributed energy most manufacturers and integrators, including resources (DERs). It brings rich data, Eguana Technologies, Fronius, GoodWe, Q intelligence and real-time control capabilities CELLS, RedEarth Energy Storage, Redflow, to DERs, bridging the gap between traditional Selectronic, SMA, Soltaro, sonnen, Sungrow, energy utilities, manufacturers and energy VARTA Storage and Victron Energy. end-users. SwitchDin’s technology enables end-user friendly virtual power plants, Source: SwitchDin microgrids and advanced network services incorporating many different types of DERs.

“The clean energy system is rapidly changing Enerven awarded contract to globally. Network operators and energy help strengthen South retailers are looking to partner with companies like SwitchDin to improve energy Australia's power network management and better orchestrate the 2 June growth of distributed energy resources and Enerven awarded ElectraNet's Main Grid improve end-user participation,” said Infrastructure Support Synchronous SwitchDin CEO, Dr Andrew Mears. Condenser Project at Robertstown

“SwitchDin is delighted to be collaborating South Australia is leading the way with the with Q CELLS to deliver intelligent solar power implementation of sustainable energy in Australia and around the world. This solutions and has rapidly adopted renewable partnership aligns with both of the energy generation sources. As more of these companies’ growth ambitions across key power sources, such as wind and solar PV are markets. Q CELLS’ investment will accelerate connected to the grid, the share of aging

Page 6 (Click on relevant project links to go to online Project Database) traditional synchronous sources, like gas-fired condenser is a sizable machine that works in a units, is decreasing. similar way to a large electric motor, where it has a large freely spinning shaft, This rapid shift in energy generation sources electromechanically coupled to the grid, and has the potential to impact system strength can manage changes in system strength, and create a shortfall because the way in inertia and voltage. They can be equivalent in which renewable sources generate and size to three to four sedans parked end-to- connect to the grid differs from traditional end, as high as an AFL goal post, and weigh sources, which makes it more difficult to more than two Boeing 737 planes. respond to fluctuations in supply and demand. Enerven will be undertaking the design, construction, and commissioning of the works While the adoption of more sustainable required to install synchronous condensers at power sources is important for Australia’s the Robertstown substation. This will mean future, having a secure power supply for the existing Robertstown substation will be South Australians is equally important, which augmented to support the new Synchronous requires both system strength and inertia to Condensers, extending the substation to be achieved. include two new parameters, one for each Synchronous Condenser. System strength refers to the power system’s ability to manage changes in supply and Enerven’s team has unparalleled experience demand while maintaining a stable voltage. with complex brownfield infrastructure Inertia is the power system’s ability to projects in South Australia and will leverage manage fluctuations in supply and demand their comprehensive knowledge and while maintaining a stable system frequency. understanding of ElectraNet’s infrastructure Our network operates at a frequency between to deliver this project successfully. The project 49.85 and 50.15 Hz; if the system goes too far is set to support around 100 South Australian out of this narrow range, the generators can jobs and will call upon local contractors from start to disconnect in trying to protect the region to complete the works. themselves from damage, which can lead to serious interruption of supply or even Further to strengthening the grid, from the ‘blackouts’. The system needs to be carefully point of commissioning, the synchronous managed to balance generation coming into condensers are also estimated to deliver a net the system and demand going out so that the saving to customers equivalent to $3-$5 per frequency does not go outside the set range. year on a typical residential electricity bill, and correspondingly more for larger customers. After investigating various options to improve This is due to being able to avoid increasing system strength, ElectraNet has received costs incurred by AEMO in directing and regulatory approval to install four compensating existing gas-fired generators to synchronous condensers on the South manage system strength shortfalls. Australian network, with two being installed at the Robertstown Substation, 130km north Source: Enerven of Adelaide and an additional two being installed at the Davenport Substation just outside Port Augusta.

A synchronous condenser operates to ensure the power system has the minimum levels of both system strength and inertia and therefore stabilises the system, preventing supply interruptions. A synchronous

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The Quarterly Carbon Market reduction in 2020, up from 49 million tonnes in 2019. Report–Quarter 1 2020 is now  The Clean Energy Regulator has available identified rural and regional Australia 3 June as the driving force behind carbon The Clean Energy Regulator has released the abatement, accounting for 82 per Quarterly Carbon Market Report – Quarter 1 cent of all carbon abatement across 2020. It provides a summary of supply and the country. demand for the large-scale generation certificate, small-scale technology certificates We will continue to closely monitor the and Australian carbon credit units over the impact of COVID-19 on carbon markets. If we past quarter and explores how COVID-19 may identify any significant issues that may affect influence the associated market in the near any of our schemes, we will provide industry future. with an update.

The renewable energy and carbon abatement This Quarterly Carbon Market Report covers industries have shown resilience despite the market activity for Quarter 1 2020. The economic challenges of the COVID-19 Quarterly Carbon Market Report–Quarter 2 pandemic. Carbon markets continue to 2020 is expected to be released in August support the economy and employment with 2020. an expected $3 billion value in certificate and unit entitlements to be issued this year. Source: Clean Energy Regulator

Highlights in the Quarter 1 2020 Report:  1.3 gigawatts of new renewable PROJECT NEWS capacity delivered: 678 megawatts Tamworth Solar Farm from large scale and 609 megawatts The federal Department of Agriculture, Water from small scale renewables and the Environment has declared Oriens  No detected slowdown (as at end of Energy’s proposed Tamworth Solar Farm, near May) in the rate of installation of Somerton in northern New South Wales, not a rooftop solar, this sector is currently controlled action under the EPBC Act . The delivering increased capacity of 33 per proposed site is in an area of agricultural land cent year on year. within a single land title of approximately 230  837 megawatts of newly committed hectares for which Tamworth Solar Farm Pty large-scale renewable capacity Ltd have secured an option to purchase. The reached financial close throughout rated output of the solar farm will be 65 MW the quarter, there are still good (AC) and the facility will include a 19 MW/19 prospects that in excess of 2 gigawatts MWh battery energy storage system (BESS). of new project will reach financial The 132 kV Tamworth to Gunnedah close in 2020. transmission line crosses over the southern  The tenth Emissions Reduction Fund part of the project Site. A new substation will auction secured 1.7 million tonnes of be built on site as part of the project, and a carbon abatement from 12 contracts connection to the existing transmission line and 11 projects at an average price of will be made from the new substation. It is $16.14 per tonne, for a total anticipated that approximately 200,000 commitment of $27.6 million. panels will be installed, depending on the type  Carbon markets for the Emissions of technology used for the panels, along with Reduction Fund and Renewable single axis tracking. Energy Target are expected to deliver at least 57 million tonnes of emissions

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ALTENERGY FEATURED PROJECT UAC announces takeover bid Wentworth CSP Project for Infigen Energy Location: 10km north of Wentworth, in South 3 June Western NSW - UAC Energy Holdings Pty Ltd ACN 640 077 Capacity: 100 MW 747 (UAC) has acquired an aggregate interest Developer: Quasar Energy in 12.82% of the stapled securities in Infigen Status: Project announced Energy (Infigen) (ASX: IFN) Description: The Project Wentworth plant will - UAC intends to make an all cash takeover bid be among the largest Concentrating Solar of A$0.80 per Infigen stapled security1 Power (CSP) plants in the world. Based on - Attractive 43.4% premium to the one-month power tower technology, this advanced volume weighted average price (VWAP) of system captures the solar radiation and stores A$0.56 per stapled security the energy, in the form of heat, to be - Compelling value and cash certainty for transformed into electricity when needed. Infigen security holders Planned to be built on 1800 hectares of - Conditions to the takeover will include freehold land currently used for grazing, on Foreign Investment Review Board (FIRB) “Netherby”, Wentworth, situated between approval and certain conditions relating to the Darling River and Fletcher’s Lake. The potential change of control provisions in plant will have access to water resources and Infigen’s debt financing agreements is situated in the vicinity of power - The Offer will not be subject to a minimum transmission and distribution grids. acceptance condition

Project features: Transaction details - 100 MW steam turbine UAC, an investment holding company owned - 14 hours of thermal storage by the AC Energy Group and the UPC - Solar multiple: 2.8 Renewables Group, today announced that it - Located on 1800 hectares of Quasar Energy has acquired an aggregate interest in 12.82% land of the Infigen stapled securities, consisting of - Solar field area: 650 hectares beneficial ownership of 9.90% of the Infigen - Heliostats solar field reflective area: stapled securities and an economic interest in 1,300,000 m2 a further 2.92% of the Infigen stapled - Nominal solar field capacity: 680MWth securities via a Total Return Swap (TRS). The - Tower height: 232 m TRS provides UAC with an option to acquire - Average annual generation: 400,000 MWh the underlying Infigen Stapled Securities, - Storage size: 1400 MWhe, (10 times the conditional on receiving approval under the ‘Tesla big battery’) Foreign Acquisitions and Takeovers Act 1975 Contact: David Wells (Cth). Chairman Quasar Energy UAC also announced that it intends to make Email: [email protected] an off-market takeover bid of A$0.80 per Infigen stapled security2 (the Offer), implying a total equity value of A$777 million for 100% of Infigen.

The Offer price is attractive and represents compelling value in the context of the price performance of Infigen stapled securities, with the strong support from Infigen security holders for UAC’s recent on market purchasing of Infigen stapled securities at the

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Offer price highlighting the attractiveness of financing agreements. The Offer will not be the Offer. subject to a minimum acceptance condition. A full list of the conditions to the Offer is set out The Infigen stapled security price has not in the attachment to this announcement. closed higher than the Offer price since August 2017. Further, the Offer price Timetable and next steps represents a premium of: UAC intends to provide a copy of the Bidder’s - 35.6% to the closing price of Infigen stapled Statement to ASIC, ASX and Infigen shortly. securities on 2 June 2020, being the last The Bidder’s Statement will contain detailed trading day before the announcement of the information relating to the Offer, including Offer (the Announcement Date); the key reasons to accept the Offer and - 43.4% to the 1-month VWAP of Infigen instructions on how to accept the Offer. The stapled securities up to and including 2 June Bidder’s Statement will be sent to all Infigen 20203; security holders in due course. - 57.9% to the 3-month VWAP of Infigen stapled securities up to and including 2 June About UAC 20204; and UAC is an Australian proprietary company that - 36.9% to the 12-month VWAP of Infigen is owned by AC Energy Group (AC Energy) (as stapled securities up to and including 2 June to 75%) and UPC Renewables Australia 20205. (trading as UPC\AC Renewables Australia) (as to 25%). The Offer is particularly attractive in the context of recent falls in electricity prices as UPC\AC Renewables Australia is in turn well as Infigen’s relatively high debt servicing operated as a joint venture between AC costs, its limited track-record in paying Energy and the UPC Renewables Group which distributions and decisions taken by Infigen to has been operating in Australia for three and suspend investment in a number of projects a half years and directly employs 30 full time and defer the delivery of its development employees. pipeline. UPC\AC Renewables Australia is developing a UAC Chairman, Anton Rohner, said: portfolio of Australian renewable energy “An acquisition of Infigen is consistent with projects, which include: our shareholders’ strategies of investing in - Robbins Island Renewable Energy Park and attractive opportunities in the renewable Jim’s Plain Renewable Energy Park in North energy sector. West (~1,000 -1,200MW), a key project for the Marinus Link and “Battery of “The businesses of Infigen and UPC\AC the Nation Project”; Renewables Australia are complementary - New England Solar Farm in regional NSW, from an investment perspective. We have which has already received development ready access to capital and significant approval from the NSW government and renewable energy expertise that will position independent planning commission (~720MW); us well to support Infigen’s pipeline of - Baroota Pumped Hydro Project (~250MW) projects and focus on much needed and Bridle Track Solar Project in South renewable energy investment and associated Australia (~300MW); and employment in Australia.” - Axedale Solar Farm in Victoria (160MW).

Offer conditions AC Energy and the UPC Renewables Group are The Offer will be subject to a number of long-time investment partners in Asia, with a conditions, including approval from FIRB and successful track record of operating certain conditions relating to potential change renewable energy projects in the Philippines of control provisions in Infigen’s debt

Page 10 (Click on relevant project links to go to online Project Database) and Indonesia, and projects in development in already own for A$0.80 per stapled security Vietnam, India, Korea, and Taiwan. (Proposal).

AC Energy is a wholly owned subsidiary of The Proposal is attached to this announcement. Ayala Corporation which is listed on the The Infigen Board notes that the Proposal is Philippines Stock Exchange with a market subject to very detailed conditions. capitalisation of approximately A$13.8 billion. The Board of Infigen is considering its response 1 This Offer price will be reduced by the value to the Proposal. Infigen security holders are of any distribution announced by Infigen on or advised to TAKE NO ACTION in respect of the following the Announcement Date if UAC Proposal or any document received from UAC in decides not to rely on the defeating condition relation to the Proposal until the Infigen Board in respect of the announcement of the makes a formal recommendation. relevant distribution (see condition (p) in the attachment to this announcement). The Infigen Board will keep security holders 2 This Offer price will be reduced by the value informed of further developments as they of any distribution announced by Infigen on or occur. following the Announcement Date if UAC decides not to rely on the defeating condition Goldman Sachs and Lazard are acting as in respect of the announcement of Infigen’s financial advisers. Gilbert + Tobin are distributions (see condition (p) in the acting as legal adviser. attachment to this announcement). 3 VWAP is calculated based on market value Source: Infigen Energy traded on ASX divided by market volume traded on ASX. VWAP calculated from 4 May PROJECT NEWS 2020 to 2 June 2020 (inclusive). Source: IRESS. Forest Wind 4 VWAP is calculated based on market value Expressions of Interest from local businesses traded on ASX divided by market volume are now open! traded on ASX. VWAP calculated from 3

March 2020 to 2 June 2020 (inclusive). Local businesses are invited to lodge an Source: IRESS. Expression of Interest to supply goods or 5 VWAP is calculated based on market value services for Forest Wind via our Project Page traded on ASX divided by market volume on the ICN Gateway at traded on ASX. VWAP calculated from 3 June https://forestwind.icn.org.au 2019 to 2 June 2020 (inclusive). Source: IRESS.

A wide range of opportunities for local Source UAC Energy businesses are available, including

accommodation providers, cleaning services,

catering and food services, logistics and UAC intention to make an off- transport, quarry and cement products, market takeover offer cabling and electrical wholesalers, security services, water haulage, electrical and civil 3 June works and many more. Infigen Energy Limited and Infigen Energy

Trust (ASX: IFN) (together Infigen or the Local and Traditional Owner participation is Company) acknowledges the announcement an important objective for Forest Wind. made earlier today by UAC Energy Holdings Butchulla and Kabi Kabi businesses are Pty Ltd (UAC) with respect to its intention to encouraged to lodge an Expression of make an off-market takeover offer to acquire Interest. all of the Infigen stapled securities it does not

Source: Forest Wind

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Emissions reduction and close this year, demonstrating the continued growth in this sector. renewables show resilience in face of COVID-19 Australia is also on track for a step up in total 3 June abatement under the ERF with a 12 per cent The renewable energy and emissions increase to over 16 million Australian Carbon reduction industries are performing well and Credit Units (ACCUs) expected to be issued in showing resilience despite the economic 2020. challenges of the COVID-19 pandemic, according to the latest data released today by “The ERF is supporting projects that deliver the Clean Energy Regulator. on-ground practical action to reduce emissions, providing benefits to our farming According to the Regulator’s Q1 2020 and Indigenous communities, and is providing Quarterly Carbon Market Report, the a way for business and industry to offset their Emissions Reduction Fund (ERF) and emissions,” Minister Taylor said. Renewable Energy Target (RET) are expected to deliver at least 57 million tonnes of “Rural and regional Australia is the driving emissions reduction in 2020, up from 49 force behind emissions reduction, accounting million tonnes in 2019. for 82 per cent of all carbon abatement across the country according to the Clean Energy Minister for Energy and Emissions Reduction Regulator,” Minister Taylor said. Angus Taylor noted how this report from the Clean Energy Regulator confirms that the The top three national abatement locations Government’s policies are having a positive are New South Wales’ Far West and Orana, impact. Queensland’s outback and South Australia’s “Australia is continuing to be a world leader in Barossa - Yorke – Mid North. renewable energy," said Minister Taylor. More information can be found in the Clean “It is promising to see that the Clean Energy Energy Regulator’s Quarter 1 2020 Carbon Regulator has not detected any slowdown in Market Report. the rate of installation of rooftop solar during the first quarter of 2020. The rooftop solar Source: Federal Government sector is currently delivering increased capacity of 33 per cent year on year.” Alinta Energy and Procurement The first three months of 2020 saw a strong result of 1.3 GW of total new renewable Australia sign 10-year Power capacity delivered, with 678 megawatts from Purchase Agreements with large-scale power stations and 609 megawatts Victorian councils from small-scale renewables. 4 June

Alinta Energy and Procurement Australia have The Clean Energy Regulator also found 837 signed an agreement to facilitate the MW of newly committed large-scale execution of 10-year power purchase renewable capacity reached financial close agreements (PPAs) with 13 Victorian councils throughout the quarter, and the construction and 1 State Government Authority. of large-scale projects is generally on track with minimal delays. Under the agreements, the Bald Hills Wind

Farm in Gippsland, an accredited GreenPower The Clean Energy Regulator reports that there generator, will supply large-scale generation are still good prospects that in excess of 2 certificates to meet the specific renewable gigawatts of new projects will reach financial energy requirements of each signatory.

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Spokespeople from both Alinta Energy and The project kicked off with a virtual opening Procurement Australia said they were excited on Saturday May 30th replacing a traditional and proud of the agreement. onsite ground breaking ceremony, currently impossible with COVID-19 restrictions. The "I'm really pleased that we've been able to opening, which is being supported by the cater to the needs of these organisations West Australian Newspaper, incorporates through these PPAs, following what I hope has editorials, print adverts, on-line editorials as been a smooth process for them," said Brent well as a social media campaign to raise Graham, Alinta Energy's General Manager awareness and will run for three weeks. Commercial and Industrial. The second of two WTE plants in the state, it "One of the benefits of these 10-year PPAs is is a critical piece of infrastructure that is the certainty it will provide those designed both to protect the public health of organisations and their constituents, which is residents in the state and to provide a important given the volatility we've seen in significant source of renewable energy. energy markets over the last decade," he explained. The new plant will process up to 300,000 tonnes of residual waste from across the This PPAs builds on the National GreenPower Perth metropolitan area, a much-needed Accreditation Program which provides solution to the State’s – and Perth in assurance for electricity customers that their particular – landfill problem, which is at risk of voluntary commitments are matched with contaminating drinking water. renewable energy that is added to the grid on their behalf. “Every tonne processed at East Rockingham will reduce the State’s carbon dioxide Joe Arena, CEO of Procurement Australasia, emissions by one tonne,” said Jason Pugh, said "As an organisation, we are excited by John Laing Project General Manager. “That’s this significant milestone that will support our the equivalent of taking 64,000 cars off the members for an entire decade. We are now in road every year once that plant is working at the process of establishing two more full capacity. The energy generated will be Renewable Energy Power Purchase baseload renewable energy, providing Agreements, including one in Western stability to the power network whilst Australia.” delivering renewable energy benefits.”

The PPAs will commence from 1 July 2020. A new website has been launched for the plant: https://erwte.com.au/, designed to Source: Alinta Energy keep local communities up to date with construction and progress, and also to explain the technology and benefits of converting Construction starts on waste- waste into energy, something we are likely to see much more of as a direct action to to-energy site in Western combatting the climate crisis. Australia Source: John Laing 4 June

John Laing Group (“John Laing”), the international active investor and partner behind responsible infrastructure is delighted to announce the start of construction at the East Rockingham Waste-to-Energy (“WTE”) plant in Western Australia.

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Hawke’s Bay Airport and position to work collaboratively with key partners such as Air New Zealand”. Centralines sign JV agreement to advance solar project Centralines have also been actively 4 June monitoring the changing energy generation In a move that further advances its aspiration landscape and are excited by the to be New Zealand’s first carbon neutral opportunities presented by this project. airport, Hawke’s Bay Airport has entered into “Centraline’s vision is to be a collaborative a Joint Venture agreement with Waipukurau partner that enables growth and delivers in based lines company Centralines to explore the new energy economy” explains the potential for a commercial solar farm on- Centralines Chair Jon Nichols. Airport. “Hawkes Bay Airport is an innovator and we The agreement will see the parties work are very pleased to have been invited to be through a structured project development part of their solar farm project development. process to select technical partners and The joint venture is well positioned to work progress the project to an investment ready through all the key issues that require sign off state. The intent beyond this is to establish a prior to any final decision to build.” Nichols limited liability partnership through which a also noted that Centralines was looking at a viable project could be funded and developed. number of additional opportunities in its own It is anticipated that the project would be network area based in Central Hawkes Bay constructed in stages with resource consents “We must evolve as our customers needs to be sought for an array capable of producing evolve and this project offers us a great up to 10 megawatts of electricity. opportunity to increase our understandings of the energy generation market, learnings that The airport has been investigating the will be invaluable for our own growth agenda potential of a renewable energy project for in Central Hawkes Bay” some time and sees investment in this area as an effective way of diversifying revenue and The area identified for development is to the contributing to its broader sustainability west of the airport’s main runway. Height framework. The project will not only generate restrictions prevent the land from being built sufficient electricity to meet the airport’s own on thus making solar an ideal way to leverage requirements, it will also supply surplus its otherwise largely redundant value. Whilst energy to others looking for a 100% an on-airport solar project of this magnitude renewable supply. would be a first in New Zealand there are a growing number of precedents at airports Whilst the initial business case will involve the around the world. “We’ve been keeping an sale of energy to external parties, Hawke’s eye on how some of our global peers have Bay Airport CEO Stuart Ainslie sees a future successfully leveraged solar” says Ainslie. where the airport can maintain carbon “There is a lot happening in this space as the neutrality as it grows. “We’re anticipating aviation industry accepts the role it must play some significant innovation in the aviation in reducing global emissions”. industry, particularly post COVID-19 which could result in demand for electricity growing Source: Hawke’s Bay Airport rapidly. This is already starting to happen on the landside of our business with electric and hybrid vehicles and if airlines pursue hybrid technology for short haul routes then this could grow exponentially. If this is the future then the scalable nature of the project will ensure the airport is in the best possible

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Storage Capacity Open Season Winds of change blowing 4 June through Queensland Walcha Energy is excited to announce the 4 June launch of its Energy Storage Open Season for Wind power is a significant part of Australia’s the Dungowan Dam Pumped Hydro Energy transforming power system and energy Storage (PHES) project and Uralla RE Hub industry. AEMO’s recent Renewable Battery Energy Storage System (BESS). Integration Study forecasted that (at certain

times) as much as 75 per cent of energy could The Storage Capacity Open Season process be provided by wind and solar resources by provides market participants an insight to the 2025. energy storage capacity, firming and ancillary services to be made available to the market In total, the NEM has 17 gigawatts (GW) of from the Dungowan PHES projects and the wind and solar generation capacity, with Uralla Hub BESS. several regions among the world’s highest

levels of wind and solar. By 2025, AEMO’s As master developer of the projects, Walcha Draft 2020 ISP forecasts in its ‘central’ Energy will use the feedback it receives from scenario that this can increase to 27GW of market participants to: wind and solar, including both utility and - assess the current requirement in the distributed solar PV. market for the services to be offered from the projects including volumes, tenor and In that central scenario, 15GW of wind power structure. capacity is forecasted which equates to - use the response to optimise and finalise the roughly 4,000 wind turbines or a square grid design of the Dungowan PHES projects and of 64 x 64 turbines (approximately 2,900 the Uralla Hub BESS, so that the optimal square km). Wind farms take up very little solutions can be provided to the market. space in their required footprint, as they - develop suitable counterparty framework for generally tend to coexist with agriculture and contracting energy storage, firming and natural surroundings. ancillary services.

In Queensland, wind power complements the Register your interest to excellent solar resources in the state as wind [email protected] and often picks up in the afternoon as the sun sets [email protected] by Friday 17 (given the temperature differential between July 2020, outlining: land and sea). Wind power also helps mitigate - Respondent details. against what’s known as ‘the duck curve’ - - Interest in the project (contracting for people are putting thousands of megawatts of energy storage, firming and/or ancillary solar PV on their roofs which is dropping services and/or other such as ownership of demand in the middle of the day in what, the energy storage assets or partnering). historically, was the peak period. This is called - Total energy storage or firming capacity the duck curve, as a duck’s belly curves requested. downwards. - Preferred timing on availability of energy storage, firming capacity and/or ancillary The potential of large scale wind generation in services. the state has been advancing through wind - Preferred counterparty contract form. farm projects such as Mt Emerald Wind Farm - If applicable, potential projects for which (180 megawatts) and Coopers Gap (453 energy storage, firming capacity and/or megawatts), and Queensland now has more ancillary services required. than 2,400 megawatts of large-scale

renewable energy capacity operating. Source: Walcha Energy

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The latest large-scale wind farm proposed for Unlocking microgrid the Wide Bay Burnett region (approximately an hour’s drive north of the state capital, opportunities in regional and Brisbane) is continuing to advance with the remote Australia introduction of the Forest Wind Development 5 June Bill 2020 into Parliament late last month. Regional and Indigenous communities will benefit from more secure, affordable and In their media release, State Development reliable energy with the Liberal and Nationals Minister Kate Jones said the introduction of Government supporting feasibility studies into the Bill marked the successful completion of microgrids. the detailed assessment stage of the Forest Wind project. The Government is backing 17 microgrid projects with over $19 million in grant funding “Forest Wind has the potential to be one of under Round One of the Regional and Remote the largest grid-connected wind farms in the Communities Reliability Fund. Southern Hemisphere and could help propel us towards our target of 50 per cent These projects are located across Australia renewables by 2030,” she said. “This project from very remote Indigenous communities in could be an absolute game changer for Western Australia and Northern Territory to Queensland. With the potential to generate rural farming communities in Victoria. up to 1,200 megawatts of electricity, it has the potential to supply one in four homes in our The studies will look at whether establishing a state. microgrid, or upgrading existing off-grid technologies, would better meet the According to the state government of electricity supply needs of regional and Queensland, the Forest Wind Development remote communities. Bill 2020 will outline a pathway for Forest Wind Holdings to obtain tenure to access, Microgrids can help reduce electricity bills for occupy, develop and manage the land for the regional and remote communities, as well as purpose of the project, and limit the deliver benefits for the grid as a whole by construction and operation of the wind farm saving hundreds of millions of dollars in to the Toolara, Tuan and Neerdie state network costs. forests. Deputy Prime Minister Michael McCormack In line with these transformational changes to said initiatives such as this consolidate generation and supply, AEMO’s Renewable regional Australia as a great place to live, Integration Study provided deep technical work and invest outside metropolitan areas. insights and analysis on managing the rapid changes to wind (and solar) output and “Our regional and remote communities need variability. Please visit our Renewable an affordable energy supply they can rely on Integration Study page for further in-depth to ensure local businesses can grow and thrive detail. which means more jobs and more economic activity,” Mr McCormack said. Source: AEMO “We need to be looking at options that will help lower cost of living pressures on families and businesses in not only the cities but in the regions especially as we recover from the COVID-19 pandemic.”

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Minister for Energy and Emissions Reduction Australia ready to fast track Angus Taylor said the grants are an important step towards unlocking investment in commercial scale hydrogen microgrids and improving the technologies 5 June that will ensure energy reliability and More than $3 billion of renewable hydrogen affordability in regional Australia. projects are vying for funding from the Australian Renewable Energy Agency (ARENA) “Microgrid technology is becoming to build the first commercial scale hydrogen increasingly cost effective, creating the projects in the country. opportunity for a reliable, low cost, off-grid supply to our regional communities and In April, ARENA opened the $70 million industries,” Mr Taylor said. Renewable Hydrogen Deployment Funding Round to help fast track the development of “This funding will enable many communities renewable hydrogen in Australia. to realise the potential of innovative technologies or distributed energy resources, With the initial application stage closing, like solar and batteries, or reduce their ARENA announced today it had received 36 reliance on costly diesel generation. expressions of interest (EOI) in the funding round. “Lower cost energy is crucial to creating jobs in regional communities.” The funding round is expected to play a significant role in supporting commercial-scale A large number of successful projects under deployments of renewable hydrogen in Round One of the Regional and Remote Australia and commence the pathway to Communities Reliability Fund will address achieving the Australian Government’s goal of energy supply in some of our most remote ‘H2 under $2’. Indigenous communities. Through the funding round, ARENA aims to Minister for Indigenous Affairs Ken Wyatt said support two or more large scale renewable we need to look at new ways to ensure hydrogen projects, with electrolysers of a energy supply for remote communities. minimum 5 MW capacity and with a preference for 10 MW or larger. These “Living remotely means that there’s already projects will be expected to be among some increases in costs, which can slow and of the largest electrolysers in the world. dampen economic opportunity. Ultimately, we want to see affordable and reliable energy An overview of the expressions of interest for families and businesses in remote received includes: Australia,” Mr Wyatt said. - Over $1 billion in total grant requests - Over $3 billion in total combined project This is an important part of our commitment value when you account for private sector to creating jobs and driving economic growth investment in the EOIs in our regions. - Almost 500 MW of electrolysis capacity, with the size of projects ranging from 5 MW to A full list of successful projects under Round nearly 80 MW One is available at: - A wide range of demand or end use case https://www.business.gov.au/microgrids. applications - Expression of interest applications from Source: Federal Government every state and territory in Australia

Each project will need to be powered by renewable electricity, either directly or through a contracting approach.

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Projects selected in the funding round can looking at renewable ammonia, power to gas also be considered for further financing from and hydrogen mobility. the Clean Energy Finance Corporation (CEFC) under the CEFC’s $300 million Advancing “Preliminary feasibility outcomes indicate Hydrogen Fund. there is a significant commercial gap and it is expected that grant and concessional funding ARENA will now assess the expressions of will be required for hydrogen production interest and invite shortlisted projects to facilities in the short to medium term,” he submit a full application, with the aim of said. awarding funding by the end of 2020. Source: ARENA The funding round follows the release of the National Hydrogen Strategy last year and is in line with the Australian Government’s focus Vestas secures service on growing an innovative, safe and competitive hydrogen industry. The funding agreements for Senvion round will also help to stimulate jobs and turbines across three wind economic growth through the application stage of the round as well as the construction farms in Australia and ongoing operation. 5 June In partnership with global energy producer ARENA CEO Darren Miller said: “We’re excited EDL, Vestas has secured service agreements to see that there is such strong interest in for the three Australian wind farms of Coober renewable hydrogen from across a broad Pedy in South Australia, Cullerin Range in New cross section of industry. South Wales and Wonthaggi in Victoria. Leveraging its world-class multibrand “This is an important step for the sector and it capabilities, Vestas will deliver the looks like we have many companies now maintenance of 23 Senvion MM82 and ready to start building large scale renewable MM92-2.05 MW wind turbines across the hydrogen projects across a range of industries three sites for a total of 47 MW. and end uses.” The fact that we’ve received expressions of interest for projects totalling All agreements will commence immediately over $3 billion in cost and almost 500 MW in and feature the Active Output Management size shows that we’re beginning to see 4000 (AOM 4000) service programme which is companies embrace making hydrogen designed to maximise uptime and ensure through renewable means,” he said. optimised performance.

“While we’re only at the early stages of “The multibrand service deals with EDL renewable hydrogen production in Australia, demonstrate how Vestas can leverage our much like our role in making large scale solar market experience, broad service solutions competitive, ARENA aims to help bring down capability and extensive supply chain to the cost of hydrogen, build Australia’s skills provide value for our customers throughout and capacity, create jobs and activity in the wind park lifecycle - whether that is regional areas and help Australia achieve our servicing Vestas turbines or third party emissions reduction objectives.” machines,” says Clive Turton, President of Vestas Asia Pacific. “We offer unmatched ARENA has already committed over $55 expertise to service more than 30 non-Vestas million in funding for renewable hydrogen models and we are proud that customers all including $22.1 million towards R&D projects, throughout our region can turn to Vestas’ as well as feasibility studies into large scale broad range of industry-leading and cost- projects and smaller scale demonstrations efficient service solutions”.

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“EDL is pleased to appoint Vestas as our Vestas’ service portfolio of Senvion turbines in maintenance service provider for the Coober Australia to 287 MW, and to over 300 MW Pedy, Cullerin Range and Wonthaggi wind across the Asia Pacific region. The partnership farms. We look forward to a safe and with EDL trails the recent unannounced productive relationship with Vestas. They are securement of Vestas’ first Senvion service an industry leader with experience in multi- agreement in Asia, as well as two community brand service, and their wide-ranging based Senvion sites in regional Victoria, geographic presence in Australia enables Australia. them to provide quality service teams adjacent to our wind assets”, says James With more than 8 GW of non-Vestas turbines Harman, EDL Chief Executive Officer. currently under service globally, Vestas’ high quality of execution and performance is In securing this service order, Vestas has underpinned by more than 10,000 dedicated leveraged its existing expertise to service all service employees and a global network major Senvion platforms including the MM82- across 69 countries. 2.05MW, MM92-2.05, 3.XM EBC and 3.XM NES platforms. Source: Vestas

As the wind industry’s largest multibrand service provider, the new agreements take

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