Project Update Week ending 1 November 2019

RES secures approval for Twin Creek , surpasses 2GW permitted in Australia 24 October - Permit secured for 185MW wind farm with energy firms to navigate development 215MW battery close to proposed challenges such as grid connection hurdles, transmission link between South Australia and and operational challenges like price risk, with New South Wales increasingly sophisticated asset management - Wind farm takes RES past 2GW approved for approaches. development, with over 750MW delivered by firm’s construction services and asset Matt Rebbeck, CEO of RES in Australia, said: management team “To ensure continued investor confidence in the sector each and every project must be RES, the world’s largest independent well-sited for both resource and grid renewable energy company, has secured connection. RES has worked to manage these planning permission for the 51-turbine Twin market challenges and, as a result, has built a Creek Wind Farm and battery storage facility, particularly strong project pipeline. As such, 90km to the north of Adelaide. Following we’re pleased to announce that the development consents for the 200MW permitting of Twin Creek Wind Farm sees us Avonlie Solar Project in New South Wales in exceed 2GW approved for development. August and the 176MW Pallamana Solar Farm in South Australia in July, this sees RES surpass “Current grid challenges, and growing 2GW of permitted wind and solar projects in appetite from Australian businesses for Power Australia. Purchase Agreements have also resulted in a strong demand for construction and asset In addition, RES’ pipeline of third-party management services provision from construction services and asset management experienced partners who can manage long- contracts continues to grow to support the term risks for investors. Leveraging the global large number of renewable and solar projects expertise of the RES Group alongside the across the country entering long term market-specific knowledge the team have operation, with more than over 750MW established over the past decade in Australia, under management to date. RES has achieved a portfolio of over 750MW of assets in operation, constructed or under Renewable energy continues to see construction.” encouraging growth in Australia, but to ensure investor confidence and sustain this Twin Creek delivers net gains for community expansion, increasingly advanced and biodiversity development and asset management The 185MW Twin Creek project is sited near approaches are called for. Ongoing success to the proposed 275-kV transmission line will be dependent on the ability of renewable linking South Australia and New South Wales,

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Project Energy Connect. Once completed, the Crookwell III Wind Farm state, already a leader in Australian renewables with wind and solar accounting refused development consent for more than 50% of energy generation, will 25 October be ideally positioned as an exporter of high The state’s Independent Planning Commission volumes of renewable energy to the eastern has refused development consent for a multi- seaboard. million-dollar wind farm development in the NSW Southern Tablelands. Dan Leahy, Twin Creek Project Manager, RES, said: “The team sited and designed Twin The Department of Planning, Industry and Creek Wind Farm to make best possible use of Environment referred the proposed 23- the very high wind speeds recorded at the turbine Crookwell III Wind Farm to the exposed, ridgeline site whilst responding to Commission for determination in April this the unique environmental circumstances and year amid community opposition. concerns of the local community.” Commissioners Peter Duncan (Panel chair), The layout of the site, fine-tuned by RES Professor Zada Lipman and Adrian Pilton were through discussions with the local community, appointed to consider the $120-million sees the turbines maintain a two-kilometer project, earmarked for a 1500-hectare site at buffer from the nearest non-associated Crookwell, 25km northwest of Goulburn. dwellings to keep noise well below guideline levels. Likewise, the layout will be highly The Commissioners met with Crookwell sensitive to wildlife in the surrounding area, Development Pty Ltd (the Applicant), including southern hairy nosed wombats and Department and Upper Lachlan Shire Council. the pygmy blue-tongued lizard. To minimize They also held a public meeting in Crookwell the impact of the development on their to listen to the community’s concerns which habitats, the number of turbines has been centred around visual and landscape impacts, limited and biodiversity offset areas have potential human health impacts and been identified to improve the outlook for remediation and rehabilitation. each species. After carefully considering all the evidence Dan continued, “We are proud to say that we and weighing the community’s views, the have taken every possible action to mitigate Commission has today (Friday 25 October the impact of this development on the local 2019) determined to refuse this state wildlife and community. Our aim is for Twin significant development application. Creek to support the area’s biodiversity as well as its people, and the project will bring In its Statement of Reasons for Decision, the 160 construction jobs, followed by ongoing Commission concluded that while the wind employment for 8 people. The local towns farm “would result in the public benefits of have seen a number of businesses close in delivering renewable energy and reduce the recent years, and this project will provide a reliance on fossil fuel consumption, there are tremendous economic boost to the area.” significant residual issues”, including: • the visual impacts of the Project are Source: RES Group unacceptable given the significant visual impacts on multiple residences and the proximity of turbines to non-associated residences • the site is not suitable for the Project, because of its proximity to and the nature and scale of visual impacts on residences and the community

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• the Project is inconsistent with objects (a), More south-west solar signs up (b), (e) and (g) of the Environmental Planning 28 October and Assessment Act 1979 and is therefore not ’s largest solar energy project in the public interest; and near Miles has signed up to connect to the • the Project does not satisfactorily address state’s publicly-owned electricity grid. the objectives of the E3 – Environmental

Management Zone of the Upper Lachlan LEP Energy Minister Dr Anthony Lynham said 2010 that require the protection of aesthetic Luminous Energy has completed a contract to values connect its proposed 162 megawatt

Columboola Solar Farm to the state’s network The Commission also cited the Project’s via Powerlink’s nearby Columboola potential adverse cumulative impacts in an Substation. area where there are other wind farms already operating. Energy Minister Dr Anthony Lynham said the

solar farm would provide up to 400 “The community raised a number of construction jobs and the substation and significant concerns about the visual impacts transmission line works would support of the project on surrounding residences and another 17 jobs. the cumulative effect of wind farm projects with residences potentially able to view wind “Our state’s renewable revolution is full turbines in multiple viewing sectors,” the steam ahead with almost 2400 megawatts of Commission noted. “The community renewable energy capacity now operating, expressed concern that wind farm projects and another 250 MW underway or will transform the landscape from an committed. attractive rural landscape towards an industrial landscape dominated by wind “We already have 30 solar farms, and more turbines.” than 560,000 Queensland rooves sporting

solar systems, with combined generation The Department originally referred the SSD capacity of more than 4000 megawatts. application to the former Planning

Assessment Commission (PAC) in 2015 with a “Importantly, Columboola solar farm will recommendation that the proposed wind create five permanent jobs in the area on top farm be approved; however, after a holding a of the construction jobs when it comes on line public meeting the PAC sent it back to the in early 2021.” Department for further assessment.

Powerlink Interim Chief Executive Kev Kehl The Department completed its final said the connection project involved works at assessment report in April this year, which Powerlink’s existing Columboola Substation concluded the wind farm should be refused. and construction of almost two kilometres of

transmission line. The Commission’s Statement of Reasons for

Decision is available here: “We have been partnering with the Luminous https://www.ipcn.nsw.gov.au/projects/2015/ Energy project team over an extensive period 02/crookwell-iii-windfarm of time to optimise their connection,” Mr Kehl

said. Source: NSW Independent Planning

Commission “Powerlink has delivered 13 connections for

large-scale renewable projects across Queensland, representing more than 1,600MW of potential generation.”

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Luminous Energy CEO Jolyon Orchard said the Ergon Energy to maximise power output while project is a major boost for clean energy minimising impacts to the network”, said Lee. generation in Queensland. The solar farm and associated substation infrastructure have been successfully “We are proud to bring this significant supply energised using the local distribution network of clean energy to a major demand centre of to allow compliance and functional tests to be the grid. The project will significantly undertaken. The Australian made 33/110kV contribute to the Queensland Government’s transformer that will connect the solar farm goal of 50 per cent renewable energy by to the transmission network, is also in the 2030,” Mr Orchard said. final stages of commissioning by Wilson Transformer Company. “The sophisticated electrical design of the plant will enable a robust flow of low carbon The Yarranlea Solar Farm is located near electricity to Queensland’s grid. Pittsworth, about 50km west of Toowoomba on the . The solar farm is “It will also bring a considerable number of approximately 250ha in area and consists of clean energy jobs to the Western Downs over 360,000 Risen solar panels mounted on a region and promote the growth of single axis tracking system. The farm will Queensland’s carbon free economy and skills generate and deliver clean, renewable sector.” electricity to power up to 32,000 homes.

Construction of the project’s transmission The Yarranlea Solar Farm is connected to the assets is due to start by April 2020. power grid using the existing Ergon Energy infrastructure, located close to the farm site. Source: Queensland Government This allows transmission of power into the Middle Ridge Bulk Supply Substation, ultimately supplying green power to homes, Risen Energy’s Yarranlea Solar businesses and industries in the Toowoomba and Darling Downs area. Farm construction completed and compliance testing phase The completed facility has a projected life of 30 years. At the end of the facility’s useful underway operating life, all physical infrastructure will 28 October be removed, and the land returned to its Construction of Risen Energy (Australia)’s 100 former agricultural use. megawatts AC Yarranlea Solar Farm was completed in August and the facility has The Yarranlea Solar Farm will contribute to entered the commission and compliance the green footprint of the state in support of phase. This will continue for several months the Queensland Government’s Green Policy. and include compliance testing with the Risen Energy (Australia) as the owner of the Australian Energy Marketing Organisation. Yarranlea Solar farm has worked within the Queensland Government’s Solar Farm “We are currently in the continuous testing Guidelines which provide a practical guidance phase which is dependent on the network for communities, landowners and project service provider and network operators and proponents. will be commercially operational in early 2020” said Eric Lee, General Manager Risen “Risen Energy (Australia) has progressed the Energy (Australia). project from detailed engineering design, through construction, commissioning and “Part of the commissioning is considering ultimately the operation of the solar farm. network constraints and we are working with We used our latest PV panel technology to

Page 4 (Click on relevant project links to go to online Project Database) supply power to the grid. Ultimately, National Renewables in integrated battery storage will be incorporated in the solar farm to provide continuous power Agriculture Conference and during periods of peak demand” said Lee. Expo 14th November 2019 Source: Risen Energy ABOUT THE EVENT On-farm renewables are a valuable opportunity for farmers to cut costs and Transmission investment is a emissions. This inaugural event brings together farmers, agriculture and energy good idea consultants, peak bodies and Government 28 October representatives to share stories of on-farm Energy Networks Australia has welcomed the renewables, their business case and discuss announcement by the Commonwealth and what’s driving the transformation of energy NSW governments to support additional use in agriculture. transmission investment. The Expo offers attendees the chance to The two governments will underwrite up to speak to credible renewable energy suppliers $102 million of works on the New South about what’s on offer. Wales-Queensland Interconnector (QNI). More information is available here Energy Networks Australia Chief Executive https://www.renewablesinagconference.com. Officer Andrew Dillon said strategic au/ investment in transmission was a good idea. NEW PROJECT “Transmission is a key part of managing the rapid increase in renewable generation and Shoalhaven Solar Farm the closure of older, base-load generation,” Repower Shoalhaven has entered into an Mr Dillon said. arrangement with Flow Power to co-develop a 3MWac solar farm for the Shoalhaven. Flow “By increasing the connection of electricity Power is a substantial electricity retailer grids between states, we create a stronger operating in Victoria and NSW focussing on system that will deliver more reliable energy renewable energy. The goal of the to customers. arrangement is for Repower Shoalhaven and Flow Power to have equal share in the “The transmission superhighways allow ownership of a 3MWac solar farm located on renewable energy to be moved around the Nowra Hill Road, off BTU Road, on land leased country while harnessing the benefits of from Shoalhaven City Council. firming generation from thermal plants, such as in Queensland. Unlike previous Repower Shoalhaven solar projects, this will be a ‘front of the meter’ “Transmission costs are a small component of scheme, with solar power sold to businesses power bills, and a more connected system is a via power purchase agreements. more competitive system, which will put downward pressure on power prices.” Flow Power are providing substantial support for the pre commitment works for this Around the world, countries are looking to community-initiated scheme. Repower will transmission to stabilise power grids with undertake a capital raising to fund its portion higher levels of renewable energy. of the solar farm following the verification of the financial viability of the project. This is Source: Energy Networks Australia anticipated to occur by May 2020. When the

Page 5 (Click on relevant project links to go to online Project Database) solar farm is operational, Flow Power will on- competitive level and increase market sell 100% the electricity generated. opportunities in the long term; (iv) in the next two to three years, identify The are a lot of tasks to work through to get and engage with utility scale partners to the scheme to a 'shovel ready' stage. Repower construct and/or utilise CETO Units on a Shoalhaven and Flow Power are working commercial scale; and together the clear the many hurdles involved (v) ultimately generating shareholder value in setting up such a large scheme. through royalty or license agreements in respect to the CETO Technology. The community capital raising for the solar (vi) The Company will also seek to generate farm will proceed only after the project is fully revenue from the GIMG asset via the demonstrated to be commercially viable. potential production and sale of electricity generated at the GIMG to the DoD. If the project is demonstrated to be viable then we are currently planning for the scheme Source: Carnegie Clean Energy to be commissioned before the end of 2020.

If you require further information please AGL signs innovative large- contact Bob Hayward, convener of the Solar farm Sub- Committee email; scale battery deals as [email protected] electricity market evolution

Source: Repower Shoalhaven accelerates 30 October AGL is pleased to announce it has signed four innovative battery derivative agreements with Business strategy and plans Maoneng Group (Maoneng), which will 29 October provide security of pricing to benefit Carnegie Clean Energy Limited (Carnegie or customers during peak periods. the Company) proposed business strategy is detailed below. Refer to the prospectus dated The deal will see Maoneng develop four large- 31 July 2019 for further details. scale batteries, each 50MW/100MWh in capacity in New South Wales. (a) Overview Following completion of the Recapitalisation Under the contract, AGL has the ability to call Proposal, Carnegie will pursue a revised on capacity as required from the Maoneng business strategy focusing on: batteries at a fixed price for 15 years, thereby (i) undertaking concentrated research and locking in a price on the cost of electricity for development activities to optimise the CETO that period. Unit design, by applying machine learning (artificial intelligence), new low-cost electrical The batteries will be operational from 2023 generators, optimised system configuration and will store enough energy to power up to and modern hydrodynamic approaches; 30,000 homes. (ii) within the next 18 months, constructing a complete digital prototype CETO Unit AGL CEO Brett Redman said the agreement incorporating the design improvements heralds a new era for the company, customers detailed in (a)(i); and the National Electricity Market (NEM). (iii) over the next two years, pursuing a partnership with an OEM equipment “This is the dawn of the battery age and AGL manufacturer or other commercial partners to is proud to lead the way,” Mr Redman said. contribute funding and expertise to decrease the costs of producing CETO Units to a

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“Australia’s energy market is undergoing Pacific Hydro celebrates significant changes and large-scale batteries like these will be pivotal in providing firming official opening of Haughton capacity in the shift between baseload power Solar Farm and renewables. 30 October Pacific Hydro staff, project neighbours, key “AGL’s a company with a 180-year history of contractors and partners, local community innovation and I’m proud that we are leading and indigenous groups, and Burdekin Shire the way with this step into batteries, which Council officials recently gathered at will be the technology of the future Haughton Solar Farm to celebrate the official opening of the first 100MW stage of the “AGL led the development of wind and solar project. projects in Australia, which has provided reliable and affordable power to thousands of The large scale solar farm, which received Australians, and we have said for some time planning approval in June 2017, achieved grid we were serious about leading in energy connection and began generating at full storage too. This will present huge benefits for capacity this past August. The opening event energy customers and the stability of the energy provided an opportunity to celebrate the first market. In total, this will help support an stage of the project achieving full generation additional 200MW of dispatchable capacity in and gave locals a chance to tour the site NSW. firsthand.

“In addition to this exciting project, we are “Reaching full generation at our first solar progressing with major investments in storage farm was truly a team effort,” said Pacific and firming capacity, with more than $1.9 Hydro Australia CEO Rachel Watson. “It only billion of new energy supply projects seemed right to invite all of the partners, completed or in construction and another $2 community members and local government billion in the pipeline. officials who made the project possible as we celebrate this milestone.” “We commissioned the Dalrymple Battery Project in South Australia, have secured The more than 1400 acre site includes nearly options for two pumped hydro projects at 400,000 individual solar panels generating Kanmantoo in South Australia and Bells enough electricity to power 58,000 homes Mountain in the Hunter region of New South annually. More than 200 jobs were created Wales as well as plans for a gas firming power during construction along with three station in Newcastle. permanent positions to operate and maintain the facility. “The response to our ground-breaking Virtual Power Plant (VPP) program has been fantastic, These numbers are expected to grow as with more than 1,000 customers signed up future stages of the farm are built. After already. The program was an extension of our making a submission to the Queensland $20 million initial VPP project. Government’s Renewables 400 reverse auction earlier this year, Pacific Hydro will In December 2017, AGL entered into a compete against nine other shortlisted 100MW offtake agreement in New South projects to secure a contract with publicly- Wales with Maoneng’s 255MWDC Sunraysia owned generator CleanCo. Solar Farm, and up to an additional 200MW of offtake from additional solar projects. If selected in the next phase of the auction, Pacific Hydro would deliver an additional Source: AGL Energy 100MW of clean energy capacity along with battery storage at Haughton Solar Farm.

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“It’s an exciting time for Pacific Hydro as we $1 billion boost for power plan future stages of the project,” said Ms. Watson. “We’re confident in our proposal and reliability in our recent success delivering large-scale 30 October solar in .” Power reliability will get a $1 billion boost as part of the Liberal National Government’s In addition to celebrating the solar farm plan to ensure Australian households, opening, Pacific Hydro also recognised eight businesses and industries get a fair deal on local groups for their successful community energy. grant applications to the Haughton Sustainable Communities Fund. The new grant The Liberal National Government will program will share a portion of revenue from establish a $1 billion Grid Reliability Fund to Haughton Solar Farm each year. support Government investment in new energy generation, storage and transmission Local groups and not-for-profit organisations infrastructure, including eligible projects serving the communities of Ayr, Brandon, shortlisted under the Underwriting New Clare, Dalbeg, Giru, Home Hill and Millaroo Generation Investments (UNGI) program. had the opportunity to apply for grant funding in September from a pool of $50,000.00. The new $1 billion fund will be administered Sixteen applications totalling $126,000 in by the Clean Energy Finance Corporation requests were received. (CEFC), drawing on the energy and financial markets expertise that has seen the CEFC All eligible applications were reviewed by an invest more than $7 billion in clean energy independent panel comprised of local since its establishment in 2012. The Fund community members, Burdekin Shire Council represents the first new capital provided to staff and Pacific Hydro officials. The panel the CEFC since it began. process empowers locals to have a say in how funds are allocated. The Prime Minister said the Fund would also help unlock private sector investment for The successful projects this year include: projects that would secure the grid and put - Burdekin Art Society – Solar panels downward pressure on prices. - Burdekin Junior Rugby League Football Club – Shaded seating for spectators “This is a yet another initiative by our - Burdekin Men’s Shed Association – Fume Government taking more action to bring collector for health and safety power prices down and keep the lights on,” - Burdekin Special School P&C – Sensory the Prime Minister said. community garden and water storage - Burdekin Touch Football – Line marking “We’re delivering immediate relief through equipment our new price safety net and banning sneaky - Clare State School – School speaker system late payment fees but we’ve also got our eye - Giru Daycare Association – Playground to the future with the projects this new Fund structure will back. - Home Hill Tennis Association – Pressure cleaner for tennis courts “Our work to date and this new initiative will help deliver an energy system that isn’t a Over the life of the solar farm, Pacific Hydro roadblock to businesses growing and will directly invest more than $2.5 million into employing more people and that isn’t stinging the region. family hip-pockets.”

Source: Pacific Hydro Minister for Energy and Emissions Reduction Angus Taylor said the fund would ensure

Page 8 (Click on relevant project links to go to online Project Database) sufficient reliable generation capacity is The Government will only refer UNGI projects available to meet periods of high demand. that reflect the CEFC’s legislative mandate for consideration under the Fund. “The Grid Reliability Fund builds on our strong action to stabilise the grid and get the energy The Grid Reliability Fund is an important generation balance right, to deliver initiative in the Government’s A Fair Deal on affordable, 24/7 reliable power,” said Minister Energy policy and will contribute to meeting Taylor. our $70 per MWh price target and maintaining and increasing supply of reliable “It is no secret that the National Electricity electricity. Market is under pressure – this fund is designed to tackle that and is part of a suite of View the energy policy blueprint here: initiatives that the Government is delivering https://www.energy.gov.au/energy-policy- to ensure when people flick the switch, the blueprint-fair-deal-energy. lights come on and stay on.” Source: Federal Government Finance Minister Mathias Cormann said the Government would update the CEFC enabling PROJECT UPDATE legislation to ensure the Grid Reliability Fund Rye Park Wind Farm could support suitable projects. Project update

Work on the Rye Park Wind Farm has “The Grid Reliability Fund will provide the progressed significantly this year. Following Clean Energy Finance Corporation with recent technical studies, detailed design and additional capacity to support affordability, construction planning, Tilt Renewables is reliability and security of supply, which moving forward with an application to modify ultimately puts downward pressure on energy some aspects of the approved wind farm prices,” Minister Cormann said. project.

The Fund will prioritise investments in Work undertaken in the past six months has jurisdictions where state and territory given us a clearer picture of how the Rye Park governments are working with the Wind Farm could look and operate. This work Commonwealth towards an agreed reliability has also identified some changes that would goal and to ensure sufficient reliable allow the wind farm to be built and operated generation capacity is available to meet more efficiently. periods of high demand.

Since the project was approved in 2017 there Eligible investments will include: have been advancements in wind turbine - Energy storage projects including pumped technology. Newer turbines are more efficient hydro and batteries, and using these more modern turbines at Rye - Transmission and distribution infrastructure, Park Wind Farm would allow the project to and generate more electricity from fewer - Grid stabilising technologies. turbines, powering more homes with clean

energy. Further announcements on individual projects, including shortlisted UNGI projects, A proposed modification to the Rye Park Wind will be made as the Commonwealth reaches Farm development consent will result in a agreements with individual project more efficient wind farm. proponents.

Key changes and benefits include: - An increase in generation capacity from 327MW to 448MW could power around

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240,000 homes - an increase of 70,000 Putting more renewable energy on the grid compared to the approved project. will drive down the cost of power for - Producing more clean energy means more Victorians – delivering savings of around $32 a carbon savings - up from 800,000 to over 1 year for households, $3,100 a year for million tonnes per year. That’s equivalent to medium businesses and $150,000 each year taking 370,000 cars off the road each year. for large companies. - A reduction in turbines from 92 to 80 and increase in tip height from 157 metres to 200 The increased target will also help drive down metres. emissions – achieving a VRET of 50 per cent by - Refinements to the site layout, access tracks 2030 is the equivalent of taking 655,000 cars and supporting infrastructure, to provide off the road for a year. greater certainty about potential impacts and how the wind farm will look and operate. The VRET 2018-19 Progress Report released yesterday shows Victoria is well on track to We expect to apply for a modification to the meet the ambitious initial target of 25 per existing Rye Park Wind Farm Development cent by 2020. Consent in early 2020. The VRET is part of the Labor Government’s Source: Tilt Renewables ongoing work to help Victorian families take back control of their energy costs – with Solar Homes delivering solar panels to 700,000 A stronger renewable energy homes, solar hot water systems to 60,000 homes and solar batteries to 10,000 homes target for Victoria over the next 10 years. 30 October Victoria’s new renewable energy target is now Quotes attributable to Minister for Energy, enshrined in law, creating thousands of jobs, Environment and Climate Change Lily putting more energy into the grid and driving D’Ambrosio down energy prices. “Victorians voted overwhelmingly in support of increasing our renewable energy target – Legislation to boost Victoria’s Renewable today we’ve delivered on our promise.” Energy Target (VRET) to 50 per cent by 2030 has passed Victorian Parliament – delivering “Enshrining a VRET of 50 per cent by 2030 on the Andrews Labor Government’s election sends a clear signal to industry to keep commitment and building on existing targets investing in renewables and creating jobs – of 25 per cent by 2020, and 40 per cent by particularly in regional Victoria.” 2025. “This legislation will help boost jobs, reduce A strong renewable energy target encourages emissions and drive down energy prices for businesses to invest in the local supply chain, Victorian families.” boosting employment – particularly in regional Victoria. Source: Victoria Government

The increased VRET will create around 24,000 jobs by 2030 and provides certainty and investor confidence for the renewable energy industry, which is expected to drive an additional $5.8 billion in economic activity in Victoria.

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Renewable Energy Target  LGCs surrendered for shortfall charge refunds are not subject to the vintage certificate market updates rule, this means that entities who intend now available to surrender LGCs for the refund in 30 October February 2020 can use LGCs created and The Clean Energy Regulator has released validated in 2020. October market updates for large-scale  LGC spot prices were $44 on 17 October generation certificates (LGCs) and small-scale 2019. technology certificates (STCs), providing our o LGC forward prices for 2020 and view on progress towards the 2020 target and 2021 are at $34.75 and $15.60 key factors that may impact certificate supply respectively. and demand. For the complete LGC market update please Current market observations: LGCs read the Large-scale generation certificate  The 6.4 gigawatts (GW) of new large-scale market update – October. renewable energy capacity required to be accredited between 2017 and 2019 to Source: Clean Energy Regulator meet the 2020 Large-scale Renewable Energy Target (LRET) was approved on 30 August. Working together to achieve a o At the end of September 2019, the accredited capacity for 2019 clean energy future so far was 7.3 GW. 30 October  Since 2016, over 13 GW of new large- New analysis from Hydro shows scale renewable energy projects are the Battery of the Nation initiative offers generating, under construction, significant potential for Tasmania and Victoria committed or probable to be built. to work together to achieve an affordable, o Recent additions to the pipeline reliable clean energy future. have been driven by smaller market players and corporate The white paper, How Battery of the Nation power purchase agreements. can contribute to Victoria’s energy needs and  The LGC balance may be tight this year objectives, was developed with funding depending on the amount of paid shortfall assistance from the Australian Renewable and the 10 per cent carry forward Energy Agency (ARENA) and outlines the mechanism. challenges facing Victoria as it transitions o We estimate that 35.3 million away from fossil fuels to renewable energy. LGCs will be in the market by February 2020. This includes The white paper shows Tasmania can help expected supply of 28.2 million Victoria mitigate the risks of early or LGCs and a 7.1 million LGC unexpected coal plant retirement, including surplus. high costs and unreliable supply, while o It is expected that around 4.7 supporting its renewable energy ambitions. million of these LGCs may be unavailable for surrender due to ’s Chief Executive Officer shortfall charge refunds and Steve Davy, said Victoria’s least-cost options voluntary surrender. are wind and solar – variable sources that  The Clean Energy Regulator’s position on require firming to be reliable. shortfall remains unchanged; liable entities may defer liability through paid “Victoria will need to access significant energy shortfall or carried forward shortfall of storage to ensure they can meet their less than 10 per cent.

Page 11 (Click on relevant project links to go to online Project Database) renewable energy targets while keeping the on behalf of investors in the AMP Capital power system reliable,” Mr Davy said. Community Infrastructure Fund (CommIF) and the AMP Capital Core Infrastructure Fund “Tasmania has idle capacity waiting to be (CIF). unlocked by market signals and delivered through the additional interconnection , located in south required by Battery of the Nation. western Victoria, comprises 140 wind turbines capable of generating 420 MW of energy – “As well, Tasmania also has significant enough to power the equivalent of 181,000 potential for development of new, low-cost, Australian homes every year. The site spans long-duration pumped hydro storage, offering approximately 5,500 hectares of agricultural the firming Victoria’s future energy mix land outside the Macarthur township. requires. Energy generated from the wind farm, which “However, with change already underway, we started operating in 2013, is fully contracted need proactive support for interconnection to AGL under a fixed price contract until 2038. through TasNetwork’s project to AGL operates Australia’s largest electricity get the electricity to where it’s needed, along generation portfolio and is one of the largest with the timely development of investment ASX-listed investors in renewable energy. incentives to ensure supply is available when it’s needed. AMP Capital Community Infrastructure Fund Manager Charles Savage said: “We’re “Further interconnection between Victoria extremely pleased to have secured this asset and Tasmania will help manage the energy for our investors. Macarthur Wind Farm is a transition over coming decades, enabling unique and high-quality asset that meets practical solutions that are complementary to CommIF’s objective to produce long-term, Victoria’s renewable energy, as well as stable returns while delivering a positive supporting the rest of the National Electricity social impact now and into the future. Market. “The transaction marks CommIF’s first “By working together, Victoria and Tasmania investment in the renewable energy sector. It can facilitate a smooth transition to the clean, has an attractive risk profile that provides reliable power system of the future.” fixed revenues that are not exposed to price or volume risk. We remain excited by the ARENA has supported the Battery of the pipeline of further opportunities in social and Nation initiative with up to $5.0 million community infrastructure projects across funding for project studies, being matched by Australia and New Zealand in 2020.” Hydro Tasmania. CommIF invests in high-yield, brownfield, Source: Hydro Tasmania social infrastructure assets in Australia and New Zealand in sectors such as education, health, corrections, community housing, AMP Capital agrees to acquire water and recreational facilities. The fund provides investors with the opportunity for 50 per cent interest in stable, long-term returns. The acquisition will Macarthur Wind Farm increase the number of assets held by CommIF to 15, with a total enterprise value of 30 October circa A$4.6 billion. AMP Capital has agreed to acquire a 50 per cent interest in Macarthur Wind Farm, the AMP Capital CIF Fund Manager John Julian largest wind farm in the southern said: “Macarthur Wind Farm is a terrific hemisphere, from Malakoff. The acquisition is

Page 12 (Click on relevant project links to go to online Project Database) addition to the CIF portfolio. The fund aims to Adani Rugby Run solar farm provide retail investors with both sustainable income and capital growth over the long term officially open and at full – the acquisition is well-aligned to this operation objective.” 31 October Adani’s first renewables project in Australia, a CIF provides retail investors access to both 65 MW solar farm in has listed and unlisted infrastructure assets, now been officially switched on, powering typically only available to large institutional more than 23,000 regional Queensland homes investors. The fund provides diversified and businesses. exposure to multiple sectors, OECD regions and asset types including airports, transport Located near Moranbah in central infrastructure, water, gas, and electricity. Queensland, Rugby Run solar farm’s 247,000 solar panels makes it the eighth largest solar The transaction is valued at approximately farm in Queensland and a significant A$880 million. Financial close of the deal is contributor in renewable energy production expected to complete by the end of the first for Queensland. quarter of 2020. AMP Capital was advised by MUFG Bank, PwC, King & Wood Mallesons, Adani CEO Lucas Dow was joined by Isaac Aurecon, and Frontier. Regional Council Mayor Anne Baker to officially open the farm in Moranbah today. Source: AMP Capital “We are delighted to officially open the Adani Rugby Run solar farm today, adding an Go ahead for solar farm Australian arm to our already significant The Refinery is to proceed with the international renewables portfolio,” Mr Dow construction of a $37 million solar farm after said. receiving approval to invest from the Refining NZ Board. “People are often surprised when we say we’re in the renewables business, but the The 31 hectare farm (Maranga Ra) will be reality is that we recognize the world needs a New Zealand’s largest and will supply 26.7 reliable and affordable energy mix of both MW or around 10% of the Refinery’s total coal and renewables in order to meet current electricity need. and future global energy demand.

Maranga Ra will reduce electricity costs by “In India we already have 2,385MW of around $3-4 million and reduce CO2 renewable energy being produced every year, emissions by a further 18,000 tonnes per year. which is enough to power the entire State of Construction is expected to get underway South Australia. before the end of the year and be completed by December 2020. “We will continue to walk the talk on the importance of a reliable energy mix and our The solar farm will be funded via a Australian Rugby Run solar farm now in combination of non-recourse project debt successful operation is evidence of that,” he funding and equity of around $10 million from said. the Company. The Rugby Run solar project construction Source: Refining NZ contractors were managed directly to ensure cost-efficient and timely delivery, rather than via the more common EPC contract model.

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“More than 175 people were employed Final Goldwind wind turbine during peak construction, with local Queensland contractors from Clermont, generator components Chinchilla, Bowen and Townsville also delivered to Cattle Hill Wind engaged, ensuring the benefits were focused in regional Queensland,” Mr Dow said. Farm 31 October “We made sure we engaged Queensland Goldwind Australia announced today the final suppliers wherever possible for Rugby Run, Goldwind wind turbine generator components with 89% of our contract services for the have arrived at project project going to Queensland businesses - 78% site in the Central Highlands of Tasmania. of supplier contracts went to regional Queensland businesses alone.” he said. Transportation of Goldwind turbine components started in March, following $10 The solar farm has been built for million of road upgrades in the Central Queensland’s conditions, with the panels Highlands area by the Launceston based programmed to rotate to track the sun most company, Gradco. efficiently and also to move to the most effective angles to withstand inclement wind Approximately 528 oversize loads have been and weather. transported to the project site, with twenty Adani’s expertise as India’s leading generator per cent of tower components being of solar power and manufacturer of solar manufactured locally by Haywards and panels was leveraged throughout all stages of transported from Launceston to the project planning, construction, and now into site. operation. Leigh Walters, Goldwind Project Director for Technical Details: the Cattle Hill Wind Farm, said the final - 1.3 million galvanized zip ties to be used in delivery is a significant milestone for the the stringing of electrical cables project. - More than 247,000 solar panels installed - 175 jobs at peak construction ‘Achievement of this project milestone - 18km of fence line installed reflects a team effort by many project - 7.2km of road built to access site partners, I would like to acknowledge the - 6,500 holes pre-drilled work of all those involved. - The solar panels rotate to track the sun and maximize efficiency ‘I would also like to thank the local - The solar panels are programmed to rest at community. We really appreciate the patience an angle that withstands inclement wind and and understanding of the communities along weather conditions the delivery route, especially those who - 65MW solar farm experienced any delays or inconvenience as a result of the blade rollover incident in Source: Adani Australia September. Any further oversize deliveries to site will be limited to spare or additional components.

‘Construction of the project is progressing well, with an approximate workforce of 150 personnel on site. 22 of 48 Goldwind turbines have been fully installed, with two main cranes now installing on site. Pre- commissioning of turbines has been ongoing and generation commissioning is planned to

Page 14 (Click on relevant project links to go to online Project Database) commence in the next few weeks. Energy Minister Dr Anthony Lynham said Commissioning of the IdentiFlight system is CleanCo’s entry to the National Electricity ongoing with the turbine commissioning.’ Market was the most significant development commented Leigh. in the Queensland electricity landscape since major structural, institutional and regulatory Once operational, Cattle Hill Wind Farm will changes more than 20 years ago. produce enough clean energy to power the equivalent of approximately 63,500 “This will maintain Queensland’s nation- Tasmanian homes. leading renewable energy growth and importantly, increase the diversity of our Source: Goldwind Australia publicly-owned generation sources,” he said.

“And importantly, new generation means Renewable generator pumping business opportunities and jobs building and running those projects. power prices down 31 October “CleanCo is central to our Affordable Energy Queensland’s new publicly-owned clean Plan that is delivering Queenslanders the energy generator CleanCo has started work in lowest average power prices on the eastern the National Energy Market, pushing power seaboard, reliable supply and a planned prices down using Queensland’s strengths in transition to a renewable future. renewable energy. “And it is Queenslanders who own this energy The establishment of a third publicly-owned asset, and all of our other energy assets.” generator focused on low and no emission power delivers on a Palaszczuk Government CleanCo today took over: commitment at the 2017 election. - the 570 megawatt Wivenhoe pumped storage hydro station; Speaking at CleanCo’s pumped hydro-electric - the 385 MW gas-fired Swanbank E power power station at Wivenhoe , Deputy station; and Premier and Treasurer Jackie Trad said - the Kareeya, Barron Gorge and CleanCo would drive competition to reduce Koombooloomba hydro power stations in Far wholesale electricity prices and ultimately North Queensland from the state’s other deliver savings on Queenslander’s power bills. publicly-owned generators, Stanwell and CS Energy. “From today, CleanCo has 1114 megawatts of dedicated clean energy generation assets in CleanCo had been tasked with bringing on an Queensland hands,” Ms Trad said. extra 1000 megawatts of clean energy over the next five years. With its mandate to build, own and operate low and no emission generators, CleanCo will CleanCo will also complete the Government’s support jobs in the growing renewable energy Renewables 400 reverse auction, bringing up sector, put downward pressure on prices to another 400 megawatts of solar and wind through increased competition, and help drive energy and battery storage into the market. Queensland towards our target of 50 perc Binding bids are being sought from 10 cent renewable energy generation by 2030. proponents to supply renewable energy and recommend projects to government early “Preliminary analysis forecasts CleanCo should next year. save $70 per year off the average Queensland household power bill, through a $7 per megawatt hour reduction in wholesale prices.

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CleanCo CEO Dr Maia Schweizer said CleanCo local regional over the life cycle of the project, was focussed on operating its assets to whilst providing clean energy equivalent to generate the best value for Queenslanders. the consumption of around 200,000 homes

“As Queensland’s publicly owned clean The project will deliver significant economic energy provider, we have a responsibility to benefits to the region, including the creation ensure operation of our assets is socially, of jobs, rates to the local government, rent to economically and environmentally viable,” Dr participating landowners. Schweizer said. Wind turbines – up to 120 machines, with “We will use our assets to sustainably and steel towers. responsibly increase supply in the electricity Substations – up to two substations, with market. compound areas of around 140 x 180m and each holding one power transformer. “This means, for example, being strategic Access tracks – Approximately 120km of about when we draw electricity from the grid access tracks may be required for the project. to pump water from to Electrical cabling – underground electrical Splityard Creek Dam and when we release cabling up to 175km at 33kV. that water to generate electricity, making sure Overhead transmission line – 55km of new we maximise the value of our pumped storage 330kV transmission line asset and maintain capacity to firm other Temporary construction compounds – car renewable sources.” parking, storage facilities, site office, amenities, etc. Source: Queensland Government Permanent site facilities – including a maintenance and control facility, met masts, PROJECT NEWS etc. MacIntyre Wind Farm Public roads – up to 9km of public road upgrades The MacIntyre Wind Farm will be located within 40,000 hectares of leased land Job packages can be applied for via: approximately 200 kms south-west of https://gateway.icn.org.au/project/4443/maci Brisbane and approximately 50 kms south- ntyre-wind- west of Warwick in Queensland. ACCIONA farm?st=projects&psid=1572490259 plans to submit a development application seeking a development permit for a Material

Change of Use (MCU) to allow construction and operation of the wind farm to the State ENGIE helps L’Oréal achieve Assessment and Referral Agency (SARA) in sustainability goals early 2020. The project is expected to produce 31 October 540 MW of clean energy with up to 120 L’Oréal Australia will be powered by 100 % turbines and commence construction at the renewable electricity under a long-term end of 2020 with a construction duration of energy supply agreement with ENGIE 18-24 months. Australia & New Zealand.

This project will provide significant economic The five-year deal is part of L’Oréal’s global activity across the Goondiwindi, Southern Sharing Beauty with All sustainability Downs and Toowoomba Regional Council program, which commits the company to areas, generate a construction workforce of reduce its environmental footprint, through up to 350 jobs with up to 12 fulltime positions changes such as using renewable energy. on site once operational. ACCIONA will provide a Community Enhancement Program to strategically deliver added value to the

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As at 2018, the L’Oréal Group had reduced the Kidston Pumped Storage Greenhouse gas emissions of its plants and distribution centres by 77% across the world Hydro – project update in absolute terms, compared with 2005, 1 November exceeding a 60% goal it had committed to Genex Power Limited (ASX: GNX) (Genex or achieve by 2020. Company) wishes to provide the following update on the Kidston Pumped Storage Hydro “Addressing climate change is an urgent project (K2-Hydro or Project). priority and as a large Australian business, we know we play a role in making positive Since the entry into a term sheet with changes to reduce our environmental EnergyAustralia Pty Ltd (EA) in December footprint,” Effie Gorringe, Director of 2018 for a long term energy agreement and Operations L’Oréal ANZ, said. “The move to equity investment in the Project (the Term renewable energy for all of our Australian Sheet) (refer ASX announcement 20 sites was a 2020 target for us and we’re December 2018), Genex has been working pleased to achieve this through our closely with EA to conclude due diligence and partnership with ENGIE before we head into finalise the terms of the transaction. This has the new decade. There is still more to be done included working with various counterparties and being a responsible company is our key including financiers, EPC contractors and the priority. We are inspired to make change and Queensland Government, with the following will continue to work on sustainability major milestones achieved in 2019: initiatives across our entire business.” • Signed $25m share subscription agreement with J-POWER for Genex’s equity requirement ENGIE ANZ Chief Executive Officer Augustin for the Project (refer ASX announcement 6 Honorat said the L’Oréal partnership was June 2019); another example of ENGIE “helping our • Received AEMO GPS Approval for the customers in their transition to zero-carbon. Project (refer ASX Announcement 14 June 2019); “More businesses are seeking affordable • Received NAIF approval of a $610m green energy and we are proud to be working concessional loan for the Project (refer ASX with L’Oréal to help them achieve their goals announcement 11 July 2019); and through an innovative, long-term power • Announcement by the Queensland supply agreement.” Government of a funding package for a new transmission line for the Project (refer ASX L’Oréal’s Australian renewable energy targets announcement 4 September 2019). will be met by a combination of green energy supplied through ENGIE’s Willogoleche Wind As part of its final approval processes, which Farm and the purchase of renewable were targeting a final investment decision in certificates. CY 2019, EA has today advised Genex that it will not be in a position to reach a positive Source: ENGIE investment decision on the basis of the long term energy agreement structure as outlined in the Term Sheet. In light of this development, Genex wishes to advise that it no longer anticipates that it will reach financial close on the Project in CY 2019.

Accordingly, Genex anticipates that the NAIF concessional loan offer and the J-POWER share subscription agreement will both lapse at or prior to 31 December 2019 (unless extended). Genex will continue to work with

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EA and its other financiers and counterparties, Isaac in the sunny lane for including NAIF and J-POWER, to restructure the financing for the transaction to ensure a renewable energy crown positive investment decision can be reached 1 November and financial close can be achieved. This is Solar, wind, coal and gas, the Isaac region’s now anticipated to occur in 2020. evolution is continuing to energise the world after the opening of a major project between Genex will continue to keep the market Clermont and Moranbah yesterday. informed as these discussions progress. As the resource sector experiences an Source: Genex Power upswing in projects, Isaac Regional Council Mayor Anne Baker commended Adani PROJECT NEWS Renewables for their work in the opening of the Rugby Run solar farm. Hills of Gold Wind Farm Wind Energy Partners submitted a referral for Mayor Baker said the Isaac is helping to its proposed Hills of Gold Wind Farm, 8km energise the world as a region which feeds, south east of Nundle in New South Wales, powers and builds communities. with the federal Department of the Environment & Energy for public comment. “Our burgeoning renewables sector is an The project proposal would comprise of the increasingly important part of that exciting installation of a wind farm with a capacity up vision,” Mayor Baker said. to 410 MW that would supply electricity to the national electricity grid through capacity “We are a region rich in resources across our available in the TransGrid Liddell to Tamworth 58,000 square kilometre footprint, in fact, we transmission line. are well known as the resources capital of Queensland. It is currently proposed that the wind farm would include development of the following “But as the milestone event in Adani infrastructure: Renewables’ 65-megawatt project shows, - Up to 97 wind turbines, mounted on tubular that’s just one part of the Isaac story. steel towers with handstand construction areas. It is currently proposed that each “Our region is playing an important role in the turbine will have a maximum tip height of development of a balanced and realistic 220m above ground level. energy mix, through the evolution from - Construction compound and temporary resources to renewables.” construction infrastructure, potentially including concrete batching facility and on- “There are a further eight solar farms that site quarry. have been approved in Clarke Creek, Isaac - Electrical connections between wind Coast, Clermont, Coppabella, Dysart, turbines and the substations (likely to be Middlemount and Moranbah. underground, subject to constructability). - Internal access tracks and upgrades to “They range in generating capacity from 50 to existing access roads, where required. 400 megawatts, providing energy from the - Up to two substations, control room and sun in ideal conditions across our wide O&M facility. plains.” - Up to 23km of high voltage, overhead powerline, connecting the wind farm site to Mayor Baker said Council supported the the TransGrid Liddell to Tamworth continued investment in renewables in the transmission line. region. - Connection infrastructure including a switching station and battery storage.

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“We are also set to be home to one of Wave energy industry representatives from Australia’s largest wind farms in this region at across Australia and the world were Clarke Creek, with the 195-turbine wind farm represented and had material on display at approved and is expected to produce 800 the Open Day. megawatts from wind and 400 megawatts from solar,” Mayor Baker said. Located in the old railway station and previous Visitor Centre building on Proudlove “As a Council, we are committed to working Parade, the facility has been refurbished by with industry and government to support UWA and will act as a shared space from employment generating development which which a range of wave, marine and renewable will enhance the sustainability and resilience energy research can be undertaken. of our regional communities. Data on marine and coastal conditions “Our region hosts one of the lowest collected through the Albany Wave Energy unemployment rates in the country and has Project and a range of geophysical, ecological the highest concentration of top income and bathymetric surveys has been made earners in Queensland. freely available to the public and to any developer interested in deploying their “Once again, congratulations to Adani technology in the region. Renewables for reaching this important milestone of the Rugby Run solar farm.” Core research in the field of hydrodynamics is underway that will develop wave prediction Source: Isaac Regional Council models that can optimise real-time tuning of wave energy devices, and UWA is exploring cost‑effective foundation and anchoring Albany wave research centre solutions specific to the marine renewable energy industry. officially opens 1 November Comments attributed to Regional - UWA Great Southern Marine Research Development Minister Alannah MacTiernan: Facility Open Day marks official opening "The Great Southern region is home to one of - Facility brings together wave energy the most consistent and reliable sources of expertise, research and development wave energy in the world.

The State Government has welcomed the "This research and technology hub, based in opening of The University of Western the heart of Albany, will provide opportunities Australia's Great Southern Marine Research for technology developers, researchers, Facility as a hub for wave and marine marine scientists and the international and renewable energy research and technology. local community to better understand the wave resource and conditions in Western Regional Development Minister Alannah Australia. MacTiernan officially opened the facility today in the heart of Albany. "The centre is bringing highly skilled people to the Great Southern to work out of the new The facility houses the Wave Energy Research office space and is driving new research Centre, which brings together wave energy collaborations. expertise, research and development, with $3.75 million funding support from the State "I commend the team at UWA for their Government. commitment to research which will help us move closer to harnessing wave energy."

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Comments attributed to Albany MLA Peter "Congratulations to UWA on bringing this Watson: facility to this point and providing an "The McGowan Government's investment in opportunity for the Albany community to this facility is bringing world-class researchers learn about our region's marine capabilities at and scientists into Albany, helping our city the Open Day today." become a hub for marine research and development. Source: WA Government

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