Project Update Week ending 15 February 2019 Major parties in NSW taking charge on solar and storage ahead of election 10 February Substantive clean energy announcements “It is very important that the announced from both the New South Wales Government programs contain appropriate safeguards to and the Opposition this weekend show that ensure the systems that are being installed both major parties have recognised the are of a high standard of safety and quality. importance of the issue to voters ahead of the This will be an extremely important element state election next month, the industry’s peak of both programs, and we look forward to body said today. working with whoever wins the next election to ensure that the safety of consumers is of Clean Energy Council Chief Executive Kane the highest priority. Thornton said the major parties should be congratulated for proposals that have “The announcements from the government embraced solar and batteries as one of the and the Labor Party are in line with the policy most effective ways to transform our energy directives released by the Clean Energy system to one that is cheaper, cleaner and Council last year. more reliable. “These policies are a great start, and we look “The zero-interest loans of up to $15,000 for forward to more announcements in the lead- solar and storage systems proposed by the up to the election,” he said. government would provide people with the means to store energy from the sun, for use Source: Clean Energy Council when it is most needed. As with other renewable energy technologies, one of the biggest barriers for consumers in taking up PROJECT NEWS energy storage is the up-front cost,” Mr West Wyalong Solar Farm Thornton said. Lightsource BP’s proposed West Wyalong “NSW Labor’s strong commitment to support Solar Farm has been placed on exhibition by an additional half a million households in the the NSW state government. The proposal is state with solar rebates of up to $2200 per for a 90 MW AC solar farm, with energy household over the next decade will also storage and associated infrastructure. The ensure a vibrant industry and provide project has an estimated capital investment expanded opportunities for solar businesses value of $136.66mil, and should create 350 and installers. construction jobs and 3 operational jobs. Page 1 (Click on relevant project links to go to online Project Database) Contact Energy considers a NSW Government gives green retail Green Bond offer light for work to start on 11 February Snowy 2 Contact Energy Limited (“Contact”) has today 11 February announced that it is considering making an Deputy Premier and Minister for Regional offer of up to $100 million of unsecured, NSW John Barilaro and the Minister for unsubordinated fixed rate Green Bonds Planning Anthony Roberts today announced (“Green Bonds”) to institutional investors and approval for exploratory works for the Snowy New Zealand retail investors. 2.0 project. The Green Bonds are expected to have a Deputy Premier and Member for Monaro maturity date of 15 August 2024. It is John Barilaro made the announcement at the expected that full details of the offer will be Snowy Hydro Discovery Centre in Cooma, released in the week beginning 18 February giving the green light from the state 2019, when the offer is anticipated to open. government for exploratory works to begin on the project. Contact has a corporate credit rating from S&P Global Ratings of BBB (stable). The Green “Snowy Hydro is an iconic, Australian success Bonds are expected to be assigned a long- story, part of the fabric of our nation and of term credit rating of BBB. the community here in the Snowy Mountains,” Mr Barilaro said. Proceeds from the proposed offer will be used for the financing of renewable generation and “We’ve taken the success of the existing other eligible assets in accordance with scheme to new heights, with a massive $4 Contact's Green Borrowing Program billion for infrastructure for in the bush Framework. following the transfer the NSW Government’s share of Snowy Hydro to the Commonwealth. ANZ Bank New Zealand Limited, Bank of New Zealand and Deutsche Craigs Limited have “Every single cent of that money is going to been appointed as Joint Lead Managers for rural and regional NSW, and these the proposed offer. communities will also reap the benefits associated with the extension of the existing Investors can register their interest in the scheme with 2000 jobs expected to be proposed offer by contacting one of the Joint created during peak construction. Lead Managers using the contact details listed below, or their usual financial advisor. “Snowy 2.0 involves expanding the existing Indications of interest will not constitute an Snowy Scheme with the construction and obligation or commitment of any kind. operation of a new pumped hydro power station. No money is currently being sought and no applications for the Green Bonds may be “It could increase the generation capacity of accepted or money received until the offer the existing Snowy Scheme by almost 50 per opens and investors receive a terms sheet. If cent and provide 350,000 megawatt hours of Contact offers the Green Bonds, the offer will large-scale storage capacity for the National be made in accordance with the Financial Energy Market,” he said. Markets Conduct Act 2013 as an offer of debt securities of the same class as existing quoted Minister for Planning Anthony Roberts said debt securities. The Green Bonds are expected the approval would allow exploratory works to be quoted on the NZX Debt Market. to investigate the underground conditions at Source: Contact Energy Page 2 (Click on relevant project links to go to online Project Database) the proposed location for a power station -The provision of new recreational facilities at cavern. the Talbingo Reservoir if current areas are impacted by the project; “Snowy Hydro Limited sought approval to - Notifications to the community about road construct a 3.1km tunnel and supporting users on the local networks and water users infrastructure, as part of the Exploratory on the Talbingo Reservoir; Works for Snowy 2.0,” Mr Roberts said. - Rehabilitation following decommissioning. “The Department of Planning and Snowy Hydro will be submitting an Environment has undertaken a rigorous Environmental Impact Statement (EIS) later assessment of the proposal, taking account of this year for the Snowy 2.0 main works environmental, social and economic impacts, involving the construction of an underground of community and stakeholder submissions power station with a generating capacity of and advice from other government agencies. around 2,000 megawatts and approximately 27km of power waterways linking the existing “Snowy 2.0 is ‘critical’ significant state Tantangara and Talbingo Reservoirs. infrastructure because of its potential to contribute to the future security and reliability The Snowy 2.0 main works EIS will be publicly of our energy system, and to deliver exhibited to provide the community with an associated economic and broader opportunity to comment. environmental benefits. This approval allows essential geological information to be Source: NSW Government gathered for the detailed design of the underground power station,” he said. NEW PROJECT Mr Roberts said approval of the project was Walla Walla Solar Farm subject to strict conditions to address Location: Approximately 4.3 km north-east of concerns about impacts on Kosciuszko the town of Walla Walla in NSW National Park. Capacity: 300 MW Developer: Bison Energy “Under the conditions of approval, Snowy LGA: Greater Hume Hydro is required to pay $10.5 million to Estimated cost: $450mil offset the impacts of the exploratory works Employment: 200 construction jobs and 3 project on the national park. operational jobs Description: The solar farm would occupy “These funds would be used by the National around 614 hectares of rural land currently Parks and Wildlife Service (NPWS) to improve used for primary production (cropping and catchment health and to support the National grazing). The proposal infrastructure includes Park’s unique environmental, heritage and solar arrays, trackers, modules, invertors, a recreational value,” he said. substation, underground cabling, security fencing and a cable run to connect the solar Other conditions of approval for include: farm to TransGrid’s 330 kV line. The - Detailed management plans to minimise proponent does not intend to install a battery traffic, water, biodiversity and heritage storage facility at this time but may consider impacts and manage rehabilitation of the adding one in the proposal in future years. disturbed areas; Contact: Simon Zhang - Strict measures for the management of Managing Director works involving the placement of material in Bison Energy Talbingo Reservoir; Tel: (03) 9830 6616 Page 3 (Click on relevant project links to go to online Project Database) Wind farm submissions closed Ranges, south of Paeroa. Seven of the proposed turbines would be 180 metres high - next steps being finalised (to blade tip standing upright) and 17 of them 11 February would be 207 metres high. Other proposed Submissions are now closed on Kaimai structures include a substation, two lattice Windfarm Ltd’s proposed wind farm project. transmission towers, two overhead power lines, and 18km of on-site roading. An on-site Overall number of submissions quarry to supply material for the roads is also Overall Hauraki District Council received 220 proposed. The applications also cover the submissions on the proposal, of which 57 removal of vegetation and earthworks were in support and 157 were opposed to the associated with the construction phase of the idea. Waikato Regional Council submissions project. totalled 143, with 96 against and 42 in support of the proposal. Around 11 Source: Hauraki District Council submissions were sitting on the fence without leaning one way or the other.