February 14 (Renewables Now) - Power plants with a combined capacity of 283 MW have secured accreditation under Australia’s Renewable Energy Target (RET) in January 2019, bringing the total accredited capacity over the last three years to 4,757 MW.
In a recent update, the Clean Energy Regulator (CER) said 24 parks joined the list of RET accredited projects in January, including the 154-MW Badgingarra Renewable Facility in Western Australia.
When a power plant gets RET accreditation, it starts receiving large-scale generation certificates (LGCs) for the electricity it produces. "Liable entities" have to buy these certificates.
CER in 2016 estimated that reaching the RET of 33,000 GWh renewable power generation by 2020 would require 6,000 MW of new capacity. Due to a higher proportion of solar projects in the pipeline, the estimates were later updated to 6,400 MW. Power plants of 4,757 MW have been accredited between January 2016 and January 2019, and there are also 5,499 MW of committed projects, so Australia will for sure surpass the targeted capacity.
In the January update, CER said 337 MW of utility-scale projects have reached financial close in the month, namely the 275-MW Darlington Point solar farm, 58-MW Cherry Tree Wind Farm and 34-MW Middlemount PV Plant. Also, 50 MW of projects signed power purchase agreements (PPAs), including the 30-MW Mannum Solar Farm in South Australia.