• CER’s Market Data report confirms RET’s success in achieving its 33,000GWh clean energy target annually.
• The NSW government has approved the controversial $4.8 billion Humelink project.
• Western Green Energy Hub aiming for 70 Gigawatts

CER Market Data for Large-Scale Renewable Systems.

This Wednesday saw the release of the latest Large Scale Renewable Energy Data report from the Clean Energy Regulator (CER). Focusing on categorising renewable energy projects into three categories – existing accredited generation capacity, approved projects and probable projects – the report reconfirmed the success of the RET in meeting its early target of 33,000GWh of clean energy being created each year.

Highlighted in the report was the significant increase of 968 MW of capacity being approved in October. This brings the total capacity approved in 2024 to 3,647 MW from 446 power stations. A significant increase when compared to 2023s total new generation of 2,206 MW.

Investment towards renewables was also shown as improving within the report, with 2024 recording 5,300MW of renewable investment. Despite remaining significantly lower than many years where investment commitments were over 6,000MW, and a peak in 2022 of 7,384MW, the recorded number was a welcome increase to 2023’s sharp decline in investment of 4,808MW.

NSW Humelink gets a green light.

NSW has approved the $4.8bn Humelink, a controversial high voltage transmission line that will eventually connect Snowy Hydro 2.0 to the wider grid. The project however has emerged as a key hurdle of opposition, as the state seeks to move to accelerate the rollout of its ambitious energy transition plan.

The approval for Humelink, which now requires approval from the federal Labor government, aims to be ready by the second half of 2026 when it will unlock Snowy Hydro and a plethora of other renewable energy projects. However, the approval is likely to also stoke community opposition. Humelink is one of Australia’s most critical infrastructure projects, a fact acknowledged by Paul Scully, NSW’s Minister for Planning.

Western Green Energy Hub aiming for 70 Gigawatts.

This week saw reports that Australia’s biggest renewable energy project – The Western Green Energy Hub in WA, has just doubled down on its ambition, now aiming for a staggering 70 Gigawatts, nearly double its original 50 Gigawatt target. On pure generation it is set to be able to create enough energy to supply the majority of Australia if connected appropriately to the various energy grids.

Projects like this and Sun Cable’s solar and battery (and now potentially wind) project in the NT are looking beyond local energy use and are eyeing up exports of electricity and ammonia. These massive projects are located outside the countries NEM and lead a wave of new planning proposals that have recently emerged, showcasing a significant uptick in scale for wind, solar, and even battery projects. Several of these battery projects are being planned for the same location, demonstrating an increasingly storage focused investment approach for many energy project developers.

At Ecovantage, we consistently analyse market activity, policy changes, consultation releases, and creation rates in conjunction with wider landscape activity. This allows us to keep our clients at the forefront of all relevant changes, and to leverage the advantage that this presents. Thank you for your continued support, and please reach out if you have any general or project-specific questions.