Project Update Week ending 20 December 2019

WA’s largest battery on its way to Kalbarri 12 December The largest utility-scale battery ever to be The beauty of this design is that it not only connected to the Western Power electricity enhances supply reliability, it will have the network left Perth today headed for Kalbarri, flexibility to grow with the population of where it will become the centrepiece for a Kalbarri, which in turn supports local new microgrid, powering the Kalbarri businesses. community in the event of a network outage. We expect to complete construction of the The battery transport is a significant microgrid, which includes the underground milestone for the integration of renewable connection of the battery, by early 2020 with energy resources into the grid. commissioning and operational trial completed later next year. The 5MW battery building is 25 metres long, five metres wide and weighs just under 60 The transport and delivery of the battery tonnes. It’s taken nearly a full day to load the demonstrates Western Power’s commitment battery onto the trucks for transport. to build a green solution for the Kalbarri community’s reliability issues. It will be a key part of the microgrid design suppling a minimum of 2MWh at any time Source: Western Power when there is a network outage.

Work has been going on in the background to Christmas/NY greetings prepare the Kalbarri network for the On behalf of the team here at AltEnergy we microgrid installation, including wish subscribers a Merry Christmas & Happy enhancements that will allow the network New Year. and battery to become islanded and draw directly from renewable sources during a Whether you are at work, at home, or away network outage. on holidays over the Festive Season please

take care and stay safe. The microgrid is an innovative solution that adds another level of certainty for the Kalbarri Thanks for your support this year, and we’ll be community, particularly during its peak back with you again in 2020 with plans to tourism season where power demand almost further improve our service and products. doubles. We have worked collaboratively with the Kalbarri community, and will continue to work alongside them as the project evolves.

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Commission approves changes concerns which centred on biodiversity, visual and noise impacts. to White Rock 13 December After carefully considering all the evidence The state’s Independent Planning Commission and weighing the community’s views, the has approved changes to a wind farm in the Commission has today (Friday 13 December New England Region. 2019) determined to approve the modification application, subject to Goldwind Australia received planning conditions. approval in July 2012 to build the 119-turbine , 20km west of Glen “The Commission agrees with the Innes, in two stages. Department’s finding … that on balance the proposed modification has merit, and is in the Stage one, comprising 70 turbines with a public interest as it would contribute 995,000 maximum tip height of 150m, is already megawatt hours per annum of renewable operational. energy to the National Electricity Market and However, the company lodged an application assist in reducing GHG emissions with the Department of Planning, Industry & (approximately 955,000 tonnes per year),” the Environment in January last year to modify its Commission concluded in its Statement of existing project approval for stage two – Reasons for Decision. specifically to: • reconfigure the layout of turbines and “The Commission finds that the Project, ancillary infrastructure carried out subject to the imposed conditions, • reduce the number of turbines from 49 to achieves a reasonable balance between 48 maximising the use of the wind resource and • increase the dimensions of the wind managing potential impacts on the turbines (maximum tip height from 150m to environment and surrounding landowners.” 200m and rotor diameter from 121m to either 140m or 170m) Source: NSW Independent Planning • increase the capacity of the existing Commission substation to accommodate stage two and potentially cater for additional energy projects in the locality • increase the project area from 13,176ha to ENGIE looks to grow 15,053ha, and renewables pipeline through • increase vegetation clearing by 169ha. new fund

13 December The matter was referred to the Commission ENGIE Australia & New Zealand today for determination because the Department announced plans to establish a renewable received more than 25 public objections energy equity platform to support further during exhibition. investment in low-carbon developments.

Commissioners Peter Cochrane (Panel Chair), ENGIE ANZ Chief Executive Officer, Augustin Wendy Lewin and Adrian Pilton were Honorat said establishing the fund would appointed to consider the modification allow ENGIE to help customers seeking application and make a final decision. affordable, green energy.

The Commissioners met with the Applicant, “We’ve put ENGIE at the forefront of the Department and Glen Innes Severn and Australian Power Purchase Agreement market Inverell Councils and inspected the site and this year with innovative partnerships with surrounding area. They also held a public meeting to listen to the community’s

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Lion, L’Oréal and others involved in the zero- Early Yallourn closure can be carbon transition,” Mr Honorat said. absorbed by increasing “We see a growing demand for green energy renewable energy supply, new and through this equity platform ENGIE can accelerate the construction of additional wind analysis finds and solar capacity, while ensuring competitive 16 December pricing for our customers.” The inevitable early closure of the ageing Yallourn power station could be absorbed by ENGIE has appointed financial advisers Natixis 2023, and supply shortages and price spikes and Azure Capital to investigate the avoided, by immediate investment in establishment of the equity platform, replacement renewable supply and storage, including a partial selldown of ENGIE’s according to new analysis by Reputex Willogoleche Wind Farm in . commissioned by Environment Victoria.

Source: Engie Speculation is rife that Yallourn, Victoria’s oldest, most unreliable and polluting coal- burning power station, will close well before NEW PROJECT its currently scheduled closure date of 2032. The ageing power station creates significant Lockhart Microgrid Energy risk to Victoria’s energy security, particularly Project over hot summer months when demand is Location: Lockhart, NSW Riverina Region high and coal generators are more vulnerable Capacity: 10 MW solar farm & 25 MWh to failure. battery storage system Developer: Better Energy Technology Immediate investment in renewable energy LGA: Lockhart Shire Council generation and battery storage would reduce Expected cost: $22mil wholesale prices faster than current trends Status: DA being assessed by Southern and help avoid a price spike at the moment of Regional Planning Panel closure, like those seen when Hazelwood Description: The proposed development power station closed in 2017. would be located on Lockhart Kywong Road on a 16ha site adjacent to an existing Essential “Yallourn has broken down 33 times in 18 Energy substation. The microgrid is planned to months. Almost everyone accepts it will close provide sufficient power to support the town before the announced 2032 timeframe. The of Lockhart, which will remain on the grid. The question is how soon, and how well we project will include approximately 28,000 prepare for it,” said Environment Victoria panels, 4 containerised 3400KVA inverter Campaigns Manager Dr Nicholas Aberle. stations, and a battery system consisting of approximately 6 containerised batteries “The Victorian government has a simple Contact: Gordon Hinds choice: build replacement supply now to CEO prepare for Yallourn’s inevitable closure and Better Energy Technology reduce risk to the energy system, or be hit Email: [email protected] with price spikes and the risk of blackouts Website: https://www.betterenergy.tech/ when the decision comes out of a boardroom in Hong Kong.

“From a climate risk perspective, Yallourn should close as soon as possible. From an energy perspective, there is now a plausible combination of solutions that enable Yallourn

Page 3 (Click on relevant project links to go to online Project Database) to close by 2023 in a way that has minimal storage (0.5 GW), and other demand-side impact on the grid and on power prices. participation (0.2 GW), can provide the available resources necessary to compensate “The vast majority of Victorians want action for the absence of Yallourn by the summer of on climate change, and they want affordable 2023/24.” and reliable power. This analysis shows we - “This includes both enough annual energy to can have all three. mitigate wholesale price rises and maintain regional power reliability through heatwaves “By building the large-scale renewables, and other extreme events to prevent transmission upgrades and battery storage ‘blackouts’.” outlined in this analysis, together with - “Modelling indicates that with effective continuing the roll-out of the Solar Homes planning the Victorian market can program, the impacts to the electricity system compensate for the closure of Yallourn as of Yallourn closing can be eliminated. early as April 2023.” - “Even if Yallourn continues to operate this “The Andrews government needs a plan for date, these new measures would position replacing Yallourn’s output before it closes – Victoria to mitigate future capacity failures as whether it has a catastrophic break-down in a existing facilities age.” summer heatwave or it is in response to credible climate targets and growth of Source: Environment Victoria renewable energy.

“Here is one plan that is achievable within 3 ESCO Pacific and Shell to drive years, and we call on the government to ensure the necessary replacement is built growth in Australian solar now. The public expects the Victorian 16 December government to manage the risks to our energy - Shell invests in ESCO Pacific for a 49% stake system while tackling our very high in the business greenhouse gas emissions.” - ESCO Pacific is one of Australia’s most successful solar companies, focused on the The analysis also found that building development and long-term asset renewable generation and storage solutions management of utility scale solar projects involves an additional 27,000 job-years, - Investment is expected to accelerate bringing investment worth $6.8 billion to development of ESCO Pacific’s pipeline of Victoria’s economy. projects and further expand Shell’s global power business “We call on the government to ensure some of the replacement supply is built in the ESCO Pacific and Shell have announced today Latrobe Valley and to extend the funding of that they have formed a strategic partnership, the Latrobe Valley Authority, whose combining ESCO Pacific’s solar development important role in supporting workers and and asset management expertise together with bringing new economic activity to the region Shell’s global scale and energy capabilities. must continue,” said Dr Aberle. ESCO Pacific is a successful and experienced The RepuTex analysis is available here. Australian focused utility scale solar developer, having delivered to market nearly 500MW of Key findings from the RepuTex report: projects since 2017, with a further 350MW of - “A combination of large- and small-scale solar assets under long term management. renewable energy (an additional 2.6 and 0.3 GW respectively), along with ‘big battery’ Shell’s investment will enable ESCO Pacific to storage (0.6 GW), small ‘virtual power plants’ further accelerate development of its project

Page 4 (Click on relevant project links to go to online Project Database) pipeline as well as opening up significant Renewable Energy Zones: opportunities with a wider range of corporate off-takers looking to procure renewable power. Supercharging Australia’s clean energy future ESCO Pacific will continue to operate under its 16 December existing management and brand. The business Developing enough renewable energy to meet will be expanding its project pipeline both Australia’s commitments under the Paris organically and by acquisition, while Climate Agreement requires us to accelerate continuing to deliver projects to market in the the decarbonisation of the electricity sector. It coming years. In addition ESCO Pacific will be is imperative we focus on realising the growing its asset management portfolio. massive potential of the nation’s unique and abundant high-quality wind and solar ESCO Pacific’s Founder and Managing Director resources. Steve Rademaker said, “ESCO Pacific has been one of the fastest-growing independent solar The identification of 35 Renewable Energy developers in Australia. We’d like to build on Zones (REZs) across Australia’s National that growth and continue our rapid scaling by Electricity Market (NEM) is the first step in leveraging the resources that the Shell advancing decarbonised electricity supply. investment makes available to us. This Last week, the Australian Energy Market partnership is a testament to the success of Operator (AEMO) released its latest draft of our strategy, our business and our team” the Integrated System Plan (ISP) which clearly shows that across the REZs there is sufficient Shell Australia Country Chair, Zoe Yujnovich resource potential for renewable energy to added, “Today’s announcement of Shell’s supply a minimum of 155,000MW of investment in ESCO Pacific, coupled with the generation. This capacity is equivalent to recent acquisition of ERM Power, supports a roughly 315 TWh. pathway for Shell to supply more and cleaner energy to utility, commercial and industrial If we unlock this potential, we can deliver customers in Australia. As the energy mix more than enough clean electricity to achieve shifts in the years ahead, Shell intends to a 100% renewable energy scenario grow with the creation of a material (approximately 196 TWh) and would be well integrated power business.” on the way towards achieving 200% renewables (approximately 396 TWh). “This investment in ESCO Pacific brings us into the rapidly growing solar market in Australia,” One of the challenges is the existing said Marc van Gerven, Vice President, distribution and transmission networks. The Onshore Renewable Power at Shell New existing network system is often highly Energies. “With their proven track record of constrained making it difficult to deliver clean, developing projects, we will accelerate the affordable electricity within the NEM. Our delivery of renewable electricity to utility, networks were not designed to shift large commercial and industrial customers.” amounts of energy from areas that are rich in wind and solar resources. New or augmented ESCO Pacific Chairman, Darryl Flukes said: transmission is needed. “We’re excited by what this agreement means for our company’s ambitions. This partnership New transmission infrastructure is currently with Shell recognises the strong capabilities of funded through the RIT-T or regulatory the ESCO Pacific Team. We are delighted to investment test for transmission. This process partner with Shell.” is a mechanism that allows for cost recovery to come from end consumers. The RIT-T has Source: ESCO Pacific proven incapable of moving fast enough to enable the timely development of REZs.

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Alternative approaches to the RIT-T are now NEW PROJECT being considered. These solutions should First community-owned solar allow for expedited investment and development of transmission infrastructure. farm offers cheaper power, Of these alternative approaches, the most financial returns to NSW north promising is the NSW Government’s recently released Electricity Strategy. The strategy west focuses on prioritis ing the development of 16 December the Central West REZ by 2025. The Central The NSW town of Manilla will host Australia’s West REZ has the potential for up to 3000 first community-owned solar farm thanks to a MW of new, clean electricity generation, partnership with Providence Asset Group, a enough to power up to 1.3 million homes leading Australian investor in renewable and each year. clean energy projects.

In the Electricity Strategy, NSW signals it will Providence Asset Group Chief Executive streamline and accelerate the planning Officer, Henry Sun, said the Manilla Solar approval frameworks in the Central West REZ. Farm was the first of up to 30 community NSW will not only attempt to alleviate the solar initiatives to be rolled out across current cumbersome RIT-T process but regional Australia, not only reducing the possibly remove the REZ from the existing RIT- impact of high power prices but also helping T framework altogether. In addition, the NSW to strengthen the viability of rural and Government will seek to establish a more regional communities. timely cost-benefit analysis mechanism for all REZs. This will enable generators to contribute “We are thrilled Manilla is the first project to up front to the costs of building new be officially launched and it’s been a pleasure transmission infrastructure in return for working with people who share our belief in guaranteed grid access. the potential of renewable energy to improve the well-being of communities and the It seems we are making progress on removing environment – now and for future policy roadblocks, but if alternative generations,” Henry said. approaches are not implemented, investment in Australia’s clean energy future will plateau. “It’s also an ideal example of communities thinking innovatively to help shape their More rapid policy and regulatory change is futures and expand the prospect for more required if we are to maximise our nation’s employment opportunities and economic abundant wind and solar resources and benefits.” respond in time to mitigate climate change. Manilla Community Renewable Energy Inc. Source: Simon Corbell (Energy Estate) (MCRE) formed in 2013 with the aim of developing a community-owned renewable energy project, and early this year joined forces with Providence Asset Group. The result is Manilla Solar, which will now spearhead the construction of the 4.9MW solar farm on a 20ha block on the Manilla Rd, within 3km of the electricity substation. The design ensures minimal disturbance to the existing landscape and includes natural screening to minimise its visual impact.

The solar farm will be connected to the grid to allow access to the local community, as well

Page 6 (Click on relevant project links to go to online Project Database) as the wider energy market, while the battery “The current drought has illustrated just how storage capability creates further important it is for our region to diversify its opportunities for the sale of the power that’s industries for the benefit of our local generated. economy, and this project is the perfect example of this. The potential employment Construction is expected to start in June 2020 opportunities for local contractors and and the farm is anticipated to be producing businesses during the construction phase, and electricity by April 2021. Providence Asset beyond, is great news and the financial and Group is currently working towards up to 30 economic returns will flow well into the more community-owned solar farms across future,” he said. NSW, Queensland and Victoria. Source: Providence Asset Group “With the price of electricity from traditional energy sources rising, solar farms like the one we’re establishing at Manilla are going to CEFC investment targets become increasingly important. This community model represents a ‘win-win’ for renewables sweet spot for both the host community in the form of community and commercial cheaper power and money back into the area, and the investors who are guaranteed an energy users attractive investment return,” Henry said. 17 December A new investment push from the CEFC and MCRE President Emma Stilts agreed it was an specialist investor Infradebt into smaller exciting opportunity for the town, and the utility-scale renewable projects aims to culmination of a lot of hard work. benefit regional communities and industrial and commercial energy users. “It’s been quite a journey to get to this point, thanks to the efforts of a lot of committed The CEFC has committed up to $50 million in people. So, to be able to formally announce debt finance to Infradebt to invest in the launch of this solar farm project, in greenfield renewable projects which generate conjunction with Providence Asset Group – a less than 25MW of energy. company that shares our vision for cleaner and greener energy generation – is very These smaller-scale developments are ideally satisfying and we’re eagerly anticipating the suited to regional communities, can be next steps,” Emma said. constructed close to demand and grid connections, and are also suitable for “Community members and business will now industrial and commercial sites. They have have the chance to invest in the project, with struggled to secure institutional investment the knowledge the electricity produced will be compared with larger-scale projects, which sold to locals at a cheaper rate than retail can deliver greater economies of scale. electricity, and that a portion of all profits will come back to the Manilla community.” CEFC CEO Ian Learmonth said: “Australia is a world leader in financing rooftop solar PV, as Director Business and Community for well as very large-scale solar developments, of Tamworth Regional Council, John Sommerlad, 50MW or more. Projects of 25MW or less can congratulated Providence Asset Group and also play a critical role in our clean energy Manilla Community Renewable Energy for the transition. foresight in pursuing and launching the solar farm project, and emphasised the benefits for “These developments require less land, the wider region. meaning they can be built closer to regional communities to meet local energy demand. They can also be more easily integrated into

Page 7 (Click on relevant project links to go to online Project Database) the grid, drawing on existing infrastructure to “We know the renewable market and we deliver secure energy supplies. work with projects that are usually too small to obtain finance from traditional banks. That “Projects of this scale are also attracting experience and point of difference has helped increasing interest from industrial and deliver solid returns in the past two years. commercial energy users, who have the space “The CEFC investment will help us continue and the energy demand to warrant that work and strengthen our focus on an investment in their own energy supply.” under-utilised segment of the renewable energy market.” Through its new mandate with Infradebt, the CEFC will invest alongside the Infradebt The IEF has a portfolio of 22 projects, Ethical Fund (IEF), an ethically-screened including the 20MW Chinchilla Solar Farm and infrastructure debt fund that finances the 34.5MW Brigalow Solar Farm in Australian infrastructure projects with a focus Queensland, the 20MW Swan Hill Solar Farm on renewable energy and social in Victoria and two 5MW projects in South infrastructure. Australia.

The CEFC commitment will increase The IEF has also financed solar projects that Infradebt’s committed discretionary capital by provide power to Alice Springs and the 50 per cent, to about $150 million, with the Voyages resort at Uluru, as well as microgrids potential to finance a total of more than meeting up to 80 per cent of the daytime 100MW in new clean energy developments. energy needs of the remote Northern Territory communities of Lake Nash, Ti Tree The finance will help close an investment gap and Kalkarindiji. in the renewable energy sector for smaller utility-scale projects valued between $10 Mr Learmonth added: “This commitment with million and $50 million. Such projects can Infradebt will extend the benefits of CEFC struggle to raise debt finance because the finance to a previously untapped segment of minimum loan requirements of most the market, closing a persistent investment institutional financiers are better suited to gap. larger projects. “CEFC finance has helped build a thriving Construction has already begun on the first clean energy sector in Australia, through two projects to be financed under the new investments in large-scale renewables, as well mandate, for 5MW solar farms at Trundle Hill as rooftop and small-scale solar projects and Peak Hill in NSW. When operational, each through our aggregation finance programs. farm is expected to generate 28,000 MWh of energy a year, enough to power 4,000 homes. “Working with Infradebt is an effective and efficient way of reaching projects in between Infradebt Chief Executive Officer Alexander these, in terms of size and value, creating Austin said the IEF invested to make a exciting opportunities for regional sustainable difference. communities and businesses to further benefit from low cost low emissions “Our aim is to give superannuation funds and renewable energy.” other long-term investors the opportunity to make a positive social and environmental Source: CEFC impact at the same time as they enhance returns from the defensive part of their portfolio,” Mr Austin said.

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Tilt Renewables completes sale TECHNOLOGY of Snowtown 2 wind farm Power generated by GE’s 17 December Haliade-X 12 MW prototype in On 5 December 2019, Tilt Renewables Rotterdam to be bought by announced that it had entered into an agreement to sell the Snowtown 2 wind farm, Eneco utility company as a result of the strategic review that was 17 December announced in June 2019, for an enterprise - Purchase enables Eneco to provide value of A$1,073 million. renewable energy to its customers - Haliade-X sets a new world record for Tilt Renewables is pleased to announce amount of energy produced in 24 hours completion of the sale of Snowtown 2 wind - Extensive testing of prototype will enable farm to an entity wholly‐owned by funds Haliade-X to obtain Type Certificate by 2020 managed by Palisade Investment Partners - Haliade-X positions GE Renewable Energy to Limited (‘Palisade’) and First State Super has compete in fast-growing offshore wind occurred today. As a result of the completion market Tilt Renewables has now received approximately A$455m, after transaction Eneco, Future Wind (a Joint Venture between related costs. Pondera Development and SIF Holding Netherlands), and GE Renewable Energy Deion Campbell, Chief Executive of Tilt today announced that Eneco will purchase all Renewables, welcomed completion of the of the electricity generated by GE’s Haliade-X transaction; “the sale of Snowtown 2 is an 12 MW prototype. The announcement was important milestone for Tilt Renewables and made during a ceremony to inaugurate the highlights the value that can be produced prototype that was recently installed at the from a high quality, well managed renewable port of Maasvlakte-Rotterdam in the energy development pipeline”. Netherlands.

Tilt Renewables will continue to assist in the The prototype set a new world record this operation of Snowtown 2 for a period of 6 past weekend by being the first wind turbine months, under an Asset Management and ever to generate 262 MWh of clean energy in Transitional Services Agreement. 24 hours, enough energy to power 30,000 households in the region. Over the next five- No employees of Tilt Renewables are directly year period, the Haliade-X prototype will employed by the Snowtown 2 entities and as undergo a series of tests to validate the such, no Tilt Renewables personnel will be turbine’s power curve, loads, grid transferred in conjunction with the sale. performance and reliability. The tests will also Following completion of the transaction, Tilt allow GE to validate operational procedures Renewables will continue to own and operate for installation and services teams and obtain the nearby Snowtown 1 wind farm. a Type Certificate for the Haliade-X in 2020, keeping GE on track to commercialize the Source: Tilt Renewables turbine by 2021.

Frans van de Noort, COO of Eneco said: “We are very proud of our cooperation with Future Wind and GE Renewable Energy, as it enables Eneco to purchase the green power produced by the Haliade-X prototype and to get hands on experience with this innovative and powerful new turbine that represents the future of offshore wind energy.”

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Diederik de Bruin, Project Manager at Future by 2030 according the Global Wind Energy Wind said: “we are glad to be able to Council, and the International Energy Agency collaborate with GE Renewable Energy and has projected that the total investment in having the world’s first 12MW wind turbine offshore wind could top $1 trillion by 2040. installed at our SiF site in Rotterdam. We believe this milestone is relevant not only for * Gross performance based on wind the global offshore wind industry, but also conditions on a typical German North Sea site. proves how Dutch companies (such as SiF and ** According to EPA Greenhouse gas Pondera) are engaged with the development equivalencies calculator of renewable energy.” Source: Eneco John Lavelle, CEO of Offshore Wind at GE Renewable Energy, said “Along with the industry’s compelling value proposition, Edify Energy solar farms first to technology innovation is a key driver of the offshore wind market. Because it is the most use artificial intelligence for powerful machine in the industry, the energy market participation Haliade-X allows our customers to drive down the cost of wind energy and speed the using AMS software adoption of clean, renewable energy. The 17 December testing that the prototype will undergo is one Edify Energy and AMS complete deployment part of a multi-faceted testing process that of AI software on a 438 MWp portfolio of will enable us to commercialize the Haliade-X utility-scale solar farms in Queensland and by 2021, just in time for the strong growth Victoria, Australia. uptick we are seeing in offshore wind worldwide.” Last week, Edify Energy completed the process of going live with AMS’ AI-backed The Haliade-X technology has been selected trading platform across five operational solar already as the preferred wind turbine for farms that Edify manages and partly owns. 4’800 MW of power in several offshore This portfolio represents the first use of AI- windfarms: the 120 MW Skip Jack and 1,100 based trading for utility-scale solar anywhere MW Ocean Wind projects in the US, and the in the world. The trading enablement rollout 3,600 MW Dogger Bank project in the UK. at Edify began in October 2019 and now Serial production of the Haliade-X 12 MW will covers a portfolio totaling 438 MWp of start at the second half of 2021. installed capacity. The solar farms under Edify Energy’s management using AMS’ trading The Haliade-X program is part of a multi- platform are Daydream (180 MWp), Hayman million dollar investment that will contribute (60 MWp), Whitsunday (69 MWp), Hamilton to reducing the levelized cost of electricity (69 MWp) and Gannawarra (60 MWp). (LCOE) by making offshore wind a more competitive source of renewable energy. One AMS’ AI-based software services help Edify Haliade-X 12 MW turbine can generate up to Energy and other renewable asset managers 67 GWh* of gross annual energy production, navigate increasing price volatility and providing enough clean energy to power maximize returns in the Australian National 16,000* European households and save up to Electricity Market. 42,000 metric tons of CO2, which is the equivalent of the emissions generated by The effects of rising price volatility are 9,000 vehicles** in one year. especially acute in Queensland, where, during the three-month period August-October 2019, The global offshore wind market is projected energy prices were negative for a total of 98.5 to grow from just over 20GW today to 190GW hours: 25 times higher than during the same three months in 2018. Prices were negative

Page 10 (Click on relevant project links to go to online Project Database) during approximately 8% of daylight hours. Vestas secures 21 MW order AMS’ trading platform skillfully addresses and alleviates this market volatility by self- from BayWa r.e. for two executing a "precision trading" strategy. The projects in Australia platform uses a range of inputs and a 17 December proprietary machine learning algorithm to Vestas has secured a 21 MW order with the predict prices, optimize around local leading global renewable energy developer, constraints and recommend bids that BayWa r.e. for the Diapur and Ferguson wind maximize financial returns. farms in the Western region of Victoria, Australia. “AMS' software services enhance our capability in renewables trading and Diapur Wind Farm will feature two V150-4.2 complements the other technical, physical MW turbines, while the Ferguson Wind Farm and commercial aspects of power station will comprise three V136-4.2 MW turbines. operations and management,” said John Cole, Edify Energy Chief Executive. “As one of the In addition to the supply and installation of leading asset managers and owners of the turbines, the order also features a 25-year renewable energy and storage assets, we’re AOM 4000 service agreement which aims to always looking to innovate and improve asset maximise uptime and ensure optimised performance. AMS’s AI solution is generating performance of the project. real value for the solar farms’ owners and will help us navigate price volatility and Turbine delivery is scheduled to begin in the constraints, particularly through the summer third quarter of 2020. and shoulder months. It has been a pleasure to work with the AMS team.” Source: Vestas

“Deploying our AI on solar in Queensland and

Victoria represents a significant expansion of AMS’ capabilities,” said Seyed Madaeni, CEO AEMO releases energy summer of AMS. “Edify Energy has shown real vision readiness report and been an excellent partner to work with. 17 December We’re proud of the results we’re getting We have today released our 2019/20 summer already. We believe that this is the first time readiness report, setting out plans and actions AI trading of solar has been deployed AEMO, the industry and government anywhere in the world and demonstrates jurisdictions have taken to prepare Australia’s AMS’s ability to manage assets under a range power system for the summer ahead. of market conditions. As renewable installations increase in Australia and around The 2019/20 summer readiness report follows the world, this type of software service will months of collaboration with governments become essential for renewables asset and industry stakeholders to proactively managers to improve returns. With AMS AI, manage heightened risks to power system solar’s future is even brighter.” operations identified in AEMO’s 2019 Electricity Statement of Opportunities Over the last year, AMS has built a contracted (released in August). It is focused on four pipeline of more than 2,000 MW of solar, pillars: wind, pumped hydro and battery storage - Sufficient available resources assets in the US and Australia. Earlier this - Continuing operational improvement year, AMS deployed its trading platform at - Contingency planning windfarms in South Australia and Victoria. - Collaboration and communication

Source: AMS

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“The Bureau of Meteorology (BoM) is “AEMO remains focused on the real risk to forecasting both warmer than average and power system operations this summer. It is extreme temperatures this summer, and an pleasing to see the level of interest from RERT ongoing and significant risk of bushfires with providers, as this initiative enables AEMO to drier than usual conditions. These risks add to have sufficient resources to manage possible the deteriorating reliability of some of the high-risk scenarios that can occur in summer, older coal generation plants,” said AEMO such as extreme or extended heatwaves, Managing Director and Chief Executive Officer bushfires and unplanned generation or Audrey Zibelman. transmission outages.

“Whilst unexpected events can and do “With the majority of these resources happen, particularly when the power system purchased under arrangements where is under significant pressure and most prone payment is only required when AEMO needs to failure, AEMO has worked diligently to them to avoid load shedding, they are a prepare the power system appropriately, necessary and cost-effective insurance policy including the procurement of emergency for the reliable operations of the system,” said resources.” Ms Zibelman.

Since last summer, AEMO is pleased to see AEMO has also been working closely with 3,700 megawatts (MW) of increased generators across the NEM to identify generation in the National Electricity Market, whether there are existing or anticipated fuel with rooftop and grid-scale solar generation supply risks to operations. Current drought representing approximately 90 per cent of this conditions are projected to have minimal increase. impact on supply adequacy this summer.

“The introduction of these resources delivers Looking beyond this summer, AEMO will a welcomed improvement to reliability and continue to work closely with the Australian reduces the need to procure further out of Energy Market Commission, the Australian market reserves,” said Ms Zibelman. Energy Regulator, industry and governments to progress developments that will enable an For the 2019/20 summer, AEMO has affordable, reliable, and secure energy system secured 125 MW of reserves through off- for Australian energy consumers now and into market generation, along with demand the future. management programs where customers are paid to shift or reduce their energy usage. The AEMO will continue to use the Energy Live reserves include 61 MW of long notice online media portal to provide the community Reliability and Emergency Reserve Trader with live updates on events, as and when they (RERT) contracts and 64 MW through the joint occur, throughout summer. In the meantime, AEMO/Australian Renewable Energy Agency check out our latest Energy Live (ARENA) demand side participation trial. podcast which goes into detail about how AEMO prepares for the summer season from Additionally, AEMO has entered into a total of an operational standpoint. more than 1,500 MW of short and medium notice RERT agreements across the NEM, Source: AEMO which allow AEMO to more rapidly enter into reserve contracts if required. Of this, more than 1,000 MW is available for Victoria and South Australia, and the remainder in NSW and Queensland, to cover risks associated with extreme heat and system scenarios.

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Zenith solar powers IGO Nova in the capital cost optimisation, operating efficiency and environmental performance of Operation Solar PV hybrid energy systems in remote 18 December locations.” Highlights - Zenith Energy Solar PV power plant is now “The combined 26.6MW system includes new live and providing zero emissions energy to 5.5MWp of state‐of‐the‐art PV modules, IGO’s Nova Nickel‐Copper‐Cobalt Operation, single axis tracking, inverters, and 360km south east of Kalgoorlie communications and control system. - Zenith’s unique battery‐free Hybrid Solar PV‐ Diesel power system maximises production “The system Zenith has installed also features from the Solar PV unit and combines with high‐efficiency, diesel‐fuelled generators that Zenith’s fuel‐efficient diesel power generation combine with our unique control system to facility to provide smooth, reliable power optimise solar and diesel power delivery.” without the need for battery stabilisation - The plant has been successfully “We are absolutely thrilled with the commissioned and is already delivering IGO performance of the system to date, which is savings in diesel consumption of saving Nova in the order of 6,500 litres of approximately 6,500 litres per day diesel every day. Importantly, this is the first - The Hybrid Solar PV‐Diesel Facility is already hybrid Solar PV‐diesel installation that has providing IGO with significantly lower power been funded on a commercial, standalone generation costs and reduced carbon basis – without any Government subsidies.” emissions “As a local, independent power producer we Remote power generation specialist, Zenith are proud to be at the forefront of delivering Energy Limited (ASX: ZEN) (Zenith or ‘the cost effective energy solutions that improve Company’), is pleased to announce that its environmental outcomes for Australia’s wholly‐owned subsidiary, Zenith Pacific (SIR) resources industry.” Pty Ltd, has started supplying power to Independence Group NL’s (ASX: IGO) Nova “This is Zenith Energy at its best – applying Nickel‐Copper‐Cobalt Operation in the Fraser outside the box thinking to deliver reliable, Range of Western Australia from its Hybrid cost‐efficient power in the most challenging Solar PV‐Diesel power generation facility. locations.”

The plant, which is built, owned and operated IGO’s Chief Operating Officer, Matt Dusci by Zenith, is already exceeding performance commented: targets for power output and energy efficiency. “At IGO we are striving to reduce our carbon footprint. The implementation of new Zenith Energy’s Managing Director, Hamish technologies with the construction of a Moffat commented: hybrid‐solar system at Nova will enable IGO to “The proprietary hybrid system developed by reduce our CO2 equivalent emissions by the Company is able to seamlessly manage approximately 6,500t per annum. The solar the fluctuations in solar PV energy production facility will also decrease our cost structure to provide smooth, reliable power, without through reductions in our diesel fuel usage.” the need for batteries to stabilise energy delivery to Nova.” Zenith will supply power from the Solar PV‐ diesel hybrid system under an initial six‐year “Batteries have their place in energy systems, period, with an option for IGO to extend for a but they are still expensive to deploy for these further two years. applications. Our unique, locally developed hybrid system eliminates the need for Source: Zenith Energy batteries and represents a major step forward

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Tonsley solar installation and made sure that we did all we could to design our delivery method around it.” reaches important milestone 18 December “Thanks to the excellent work of our Work on one of Australia’s largest rooftop installers, consistent and open dialogue with solar arrays reached an important milestone Enwave Australia, and great engagement with this week, with approximately half of the SA Power Networks and the overarching client project now generating renewable energy for Renewal SA, we are really pleased to now be the Tonsley Innovation District thanks to an at a stage where the first 3800 panels have innovative delivery scheme developed by the already been installed and are now already two companies involved in the project. generating clean renewable energy for the site.” With almost 4000 panels already laid for the installation by ZEN Energy on behalf of Enwave Australia Project Director Ray Egan Enwave Australia, the project will ultimately explained how pleased Enwave Australia was comprise a total installed capacity of 2.34 to achieve this important milestone for the megawatts delivered by approximately 7400 project, and what it meant for the goals of the solar panels across the five-hectare MAB roof Tonsley District Energy Scheme: at the Tonsley site. Once completed, the “It is a great achievement by all parties system will form one of Australia’s largest involved to achieve this milestone. By working single rooftop solar arrays. together as a community, Enwave Tonsley is able to capture value for tenants through The installation is part of Enwave economies of scale, efficiency of operations Australia’s Tonsley District Energy Scheme to and implementation of innovative deliver clean, competitively priced energy to technologies and utility services solutions. In Tonsley tenants and residents via smart the future the network may incorporate renewable technology. Cleantech and battery storage and potential use of hydrogen renewable energy is one of four industry as well as innovations provided by tenants at focus sectors at Tonsley and the district is Tonsley and beyond.” becoming a national hub for the development of related innovative technology. With the Tonsley District Energy Scheme launched only months ago by the Extracting solar energy from the panels as Government of South Australia, Enwave soon as possible has been an important goal Australia, and ZEN Energy, the milestone of the installation. To achieve this goal, ZEN marks a fast turnaround from launch to Energy and Enwave Australia worked together energy generation for the scheme, with work to devise an innovative delivery approach that continuing on the installation ahead of an would allow approximately half of the expected completion date for the full solar installation to be commissioned and switched energy system early in the new year. on ahead of time, rather than waiting for the entire installation to be completed as is the Source: ZEN Energy practice for more standard delivery models.

As ZEN Energy Technical Manager Daniel Hope explains: “One of the goals of the Tonsley District Energy Scheme is that at least 30% of all energy consumed on the site will be generated from solar panels mounted on the MAB roof. From day one of the project we were aware and really mindful of this target

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Genex achieves financial close grow earnings from its portfolio of renewable energy assets.” for the 50MWAC Jemalong Solar Project & the refinancing Commenting on the HoldCo facility, Clean Energy Finance Corporation (CEFC) CEO, Ian of the 50MWAC Kidston Solar Learmonth said: One Project “This transaction consolidated the strong 18 December working relationship with Genex, which began Highlights: with the CEFC’s investment in the Kidston • Project Financial Close achieved for JSP and Renewable Energy Hub near Townsville in refinancing for KS1; 2017. Our first investment with Genex was in • Execution of EPC and O&M Contracts with the Kidston Solar One Project – an innovative Beon Energy Solutions for JSP; and project that was the first of its kind in • Commencement of construction for JSP. Australia to co-locate a large-scale solar farm Project Financial Close: with a large-scale pumped hydro storage Genex Power Limited (ASX: GNX) (Genex or project. Company) is pleased to announce that it has successfully achieved Financial Close for the It is great to support Genex in utilising the 50MWAC Jemalong Solar Project (JSP) in New strong base of the Queensland Government South Wales and the refinancing of the contracted Kidston Solar One Project to build existing debt facility for the 50MWAC Kidston another new solar farm in New South Wales. Solar One Project (KS1), operating at the The clean energy generated by the Jemalong Company’s Clean Energy Hub in Kidston, Solar Project will provide more electricity North Queensland. capacity to the grid as it prepares for the upcoming retirement of coal powered The total debt funding package of $192m generation.” includes a senior loan facility and structurally subordinated HoldCo facility. The senior Execution of EPC and O&M Contracts: facility has been independently verified as a Genex is also pleased to announce that it has Green Loan and is the first Green Loan successfully executed an Engineering, globally to be Certified under the latest Procurement and Construction (EPC) Contract internationally recognised Climate Bonds and an Operation and Maintenance (O&M) Standard v3.0. The 100MWAC Portfolio Contract with Beon Energy Solutions (Beon) Financing includes the largest Certified Green for JSP. Loan by an Australian renewable energy group. Beon is one of the leading EPC companies in Australia for large-scale solar projects, with Westpac Banking Corporation has been experience amounting to more than 500MW, appointed as the Agent and Security Trustee of which approximately 290MW is under for the senior facility. construction. Beon is a subsidiary of Victoria Power Networks Pty Ltd and has a successful Commenting on the debt funding package, model for the delivery of renewable energy Genex CEO, James Harding said: and infrastructure projects founded on safety, “Genex welcomes the funding provided by the reliability, quality, cost-effectiveness, Clean Energy Finance Corporation, DZ Bank sustainability and community engagement. AG, Nord/LB and Westpac Banking Corporation. The 100MWAC Portfolio Following Financial Close and the execution of Financing includes the largest Certified Green the EPC and O&M Contracts, construction has Loan by an Australian renewable energy now commenced for JSP. It is anticipated that group. Genex is now in a strong position to construction will occur over a 12-month

Page 15 (Click on relevant project links to go to online Project Database) period, with operations/first cash flow in Q4 “This could increase Queensland’s installed CY 2020. power generation capacity by approximately nine per cent. Commenting on Beon’s appointment, Genex CEO, James Harding stated: “The project is being advanced as an exclusive “Genex is very pleased to enter into the EPC transaction as part of the Queensland and O&M contracts with Beon, who have a Government’s investment facilitation services. strong history of renewable energy construction in Australia, complemented by “It will now move into the detailed their in-house expertise in grid connection, assessment stage, which will also include the commissioning and electrical works. We look assessment of its development application.” forward to continuing an excellent relationship with Beon throughout the Mr Dick said the proposed wind farm would construction and operation of the Jemalong be located within state forest land between solar farm and as we look to expand our Gympie and Maryborough. portfolio of assets over the coming years.” “It would co-exist with established southern Source: Genex Power pine timber plantations that support our forestry industry,” he said. NEW PROJECT Job-generating Wide Bay wind Forest Wind Holdings, a joint venture between Queensland-based renewables firm farm proposal gaining CleanSight and Siemens Financial Services, has momentum proposed to locate up to 226 wind turbines across the sites. 19 December

A proposed large-scale wind farm project in The plantations are owned and managed by the Wide Bay region, valued at up to $2 HQPlantations on land under licence from the billion, is moving forward thanks to facilitation state. support provided by the Palaszczuk

Government. The project has the potential to generate

1200 megawatts of renewable energy. Minister for State Development Cameron Dick said the Forest Wind project could create Together with other wind energy projects in around 440 construction jobs and boost the state, this would represent 12 per cent of renewables supply for Queensland’s future Queensland’s installed generation capacity. energy needs.

Member for Maryborough Bruce Saunders “This would be one the largest grid-connected said the Palaszczuk Labor Government would wind farms in the southern hemisphere,” Mr continue bringing investment and jobs to the Dick said. region.

“The wind farm would generate “This is yet another massive project with the approximately 1200 megawatts at capacity, potential to create work for hundreds of Wide which will power more than 550,000 homes. Bay families,” Mr Saunders said.

“This is enough power for all homes across “We’ve got the workforce and skills here the Wide Bay-Burnett, Sunshine Coast and locally, and we’re ready to build the big Gold Coast combined, or the entire Brisbane projects that will transform Queensland’s City Council area. future.

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“Locating the wind farm on plantation licence “Through our financing arm, Siemens areas would be a first for Queensland. Financial Services (SFS), we are excited to invest in one of the world’s largest onshore “It’s a great example of private enterprise wind farms in Queensland, helping Australia thinking outside the box to help boost secure its energy future,” Mr Connolly said. renewable energy generation in our state.” “Siemens has a long and proud history in Forest Wind Holdings has confirmed that Queensland and Australia dating back almost subject to receiving all relevant approvals, 150 years. construction of the wind farm could commence as early as fourth-quarter 2020. “The company has provided critical leading technology supporting infrastructure and Minister for Natural Resources and Energy Dr industry – ranging from energy to water, Anthony Lynham said the Palaszczuk transport, agribusiness, manufacturing, Government was pushing ahead to transform mining and resources, healthcare and even the state’s energy network and achieve 50 per sugar and beer. cent renewables by 2030. “This new partnership and joint venture is a “While there is still much work to be done natural extension of our relationship.” before Forest Wind becomes a reality, our government recognises the significance of this HQPlantations CEO Jeremy Callachor said he project,” Dr Lynham said. was excited about the possibility of supporting the Queensland Government’s “We’ll keep working with Forest Wind long-term renewable energy targets in a Holdings and key stakeholders to facilitate the material way. long-term access and operation of the wind farm, and to maximise the value of this land.” “We will work closely with Forest Wind Holdings to leverage complementary Over the coming months, Forest Wind will opportunities for improvements in fire negotiate land use and cultural heritage with protection and road access in the estate, and the Native Title parties, the Butchulla and Kabi to ensure there is minimal impact on timber Kabi First Nations people, and consult with production,” Mr Callachor said. local communities and businesses. Mr Dick said the project had been advanced Forest Wind Holdings Chairman James Pennay by the Queensland Government’s Investment said in addition to the hundreds of Facilitation and Partnerships Group within the construction jobs, the project could support Department of State Development. up to 50 operational roles in the long-term. “This group aims to provide a clear entry point “The project could also produce enough clean for major investment projects and a energy to supply up to one-in-four customised and streamlined pathway to Queensland homes,” Mr Pennay said. decision-makers across government,” he said.

Siemens Australia CEO and Chairman Jeff Source: Queensland Government Connolly said this investment into the state’s energy future adds to Siemens prior equity stake in the successful consortium for the Sunshine Coast University Hospital.

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