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- Alinta Energy’s Commitment to Renewable Energy
Alinta Energy’s Commitment to Renewable Energy
Alinta Energy strongly supports the Renewable Energy Target (RET) which has successfully increased Australia’s renewable generation capacity and brought Australia closer to meeting its emission reduction targets.
Alinta Energy has historically supported the development of a number of large renewables projects including the Bald Hills Wind Farm in Victoria and the Walkaway Wind Farm in WA.
More recently Alinta Energy has acquired the development rights to a ~500MW renewable energy project pipeline which includes the ~300MW Yandin Wind Farm development, and has agreed terms to contract for a ~34MW wind offtake in Victoria along with a ~58MW solar offtake in QLD. Alinta has also announced this week the entry into a long-term (12 year) offtake agreement with APA Group that will underpin the construction of the 130MW Badgingarra Wind Farm in Western Australia.
Alinta Energy’s significant renewable investment strategy will take some time to be fully implemented. Accordingly, to meet its 2016 RET liability Alinta Energy has surrendered Large Scale Generation Certificates (LGCs) for the majority of its liability, and for a smaller proportion, utilised the shortfall charge provisions contained in the Renewable Energy (Electricity) Act 2000 (Cth). Alinta Energy plans to use its future investments to ‘make good’ on its 2016 shortfall once those projects are operational.
Alinta Energy believe this strategy:
- supports the aim of the scheme (which provides flexibility to make good on any shortfalls within three years),
- minimises the cost of meeting Alinta’s RET liability (which is beneficial for customers), and
- promotes greater competition in the energy market on a go forward basis.
The renewable investments Alinta Energy is progressing will complement its flexible gas generation fleet and expand on its ability to provide clean, affordable and reliable energy for its customers. These investments have Alinta placed to grow in an Australian energy industry that is working towards a low carbon future.