Australia accredits 3 GW under renewables target in 10-mo
Large-scale RET progress. Source: www.cleanenergyregulator.gov.au
Large-scale capacity accreditations under Australia’s Renewable Energy Target (RET) topped 3 GW in the first 10 months of 2018, the Clean Energy Regulator (CER) said Friday.
Total of 150 MW of capacity was accredited in October, including 139 MW at three large wind and solar parks -- 112 MW for the Karadoc Solar Farm in Victoria, 20 MW for the Baking Board (Chinchilla) Solar Farm in Queensland, and 7 MW for the Timboon West Wind Farm again in Victoria.
CER said 438 MW of projects have recently reached financial close, including the 200-MW Kiamal Solar Farm in Victoria and the Sunraysia Solar Farm of the same size in New South Wales.
Australia is well on the way to treble RET capacity accreditations this year from the 2017 record of 1.09 GW.
When a power plant gets accreditation, it starts receiving large-scale generation certificates (LGCs) for the electricity it produces. "Liable entities" have to buy these certificates. LGC spot prices ranged between AUD 76 (USD 55.5/EUR 48.7) and AUD 89 apiece in 2017, but they have fallen significantly. On September 27, 2018, spot LGCs closed at AUD 71.9.