Green Renaissance in Australia
After more than three years of inertia, the Australian renewable energy industry is finally showing signs of a resurgence. A series of reviews of the Renewable Energy Target since 2012, and the abolition of the carbon tax in 2014, created a climate of uncertainty that meant investment in new large-scale renewable generation slowed dramatically. In the intervening period, new investment was largely driven by state and territory governments and their agencies. However, with the Large-scale Renewable Energy Target finally settled, the industry is now taking steps to meet the target. Prices for large-scale generation certificates have risen sharply, and long-term power and LGC power purchase agreements essential for bankable new investments are starting to make a comeback.
The article first appeared in Project Finance International's Global Energy Report, April 2016.
- Rob WattPartner,
Ph: +61 2 9230 4095
- Phillip CornwellSenior Finance Counsel,
Ph: +61 2 9230 4748