Reverse auction results in three new wind farms

The ACT’s first wind energy reverse auction has resulted in a $50 million direct investment into the local economy, predicted to result in broader economic benefits in excess of $240 million.

ACT Minister for the Environment Simon Corbell said the auction has delivered “low renewable energy prices and enough renewable energy to provide for approximately 33% of Canberra’s electricity needs”, including three wind farm projects which are expected to be operational by 2017. Together with the 40 MW of large-scale solar the territory is investing in, and the existing 44 MW of household solar installations, renewables will soon be powering 80% of all Canberra’s household electricity needs.

The three wind farm projects are:

• The Ararat Wind Farm, an 80.5 MW wind farm developed by RES Australia, west of Ballarat, Victoria, at a feed-in tariff price of $87/MWh.
• The Coonooer Bridge Wind Farm, a 19.4 MW wind farm developed by Canberra company Windlab, west of Bendigo, Victoria, at a feed-in tariff price of $81.50/MWh.
• The Hornsdale Wind Farm, a 100 MW wind farm developed by Neoen, south-east of Port Augusta, South Australia, at a feed-in tariff price of $92/MWh.

“The three successful projects will deliver a range of benefits for the ACT through a $50 million economic stimulus package, including new jobs, a new national trades training centre, an innovation fund for small Canberra renewables businesses and a $7 million investment in new courses at the Canberra Institute of Technology and the ANU,” Corbell said.

“Combined, they will deliver almost 200 MW of renewable energy generation capacity for the territory - enough to power 107,000 Canberra homes - and will result in a 580,000 tonne reduction in the ACT’s carbon emissions each year, the equivalent of taking 157,000 cars off the road.”

Corbell said the ACT Government has secured the 200 MW of renewable energy at “the lowest possible price”. The pass-through cost to consumers is expected to peak at just $1.79 per household per week in 2020 before declining. This is part of the total cost of reaching 90% renewable energy use, which is estimated to peak at $4.67 per household per week in 2020 before declining.

All three wind farm project proponents are members of the Clean Energy Council. The chief executive of the council, Kane Thornton, praised the ACT Government for “leading the way” in renewable energy following the uncertainty caused by the Renewable Energy Target (RET) review.

Indeed, Corbell stated that the project will “secure Canberra as the renewable energy capital” and make the ACT “the leading jurisdiction in the nation for renewable investment”.

For more information on the projects, visit www.environment.act.gov.au/energy/wind_power.