Energy large AGL has stepped up its shift away from coal and fuel, including a improvement pipeline of greater than 8 GW of large-scale photo voltaic and battery vitality storage tasks to its portfolio with the acquisition of two renewable vitality builders in Australia.
From pv journal Australia
In a market announcement, vitality technology and advertising and marketing main AGL confirmed it had entered right into a binding settlement to amass Sydney-based photo voltaic developer Terrain Solar and battery vitality storage specialist Firm Power in a deal value about AUD 250 million ($165.5 million).
The transaction will ship to AGL, which operates Australia’s largest non-public electrical energy portfolio throughout the National Electricity Market (NEM), a photo voltaic undertaking and battery storage improvement pipeline with a mixed 8.1 GW of capability.
This consists of six giant photo voltaic tasks with a mixed capability of 1.8 GW that Terrain is creating. Most of this capability is in Queensland which is dwelling to 1.1 GW of the PV portfolio whereas the corporate has 500 MW beneath improvement in New South Wales (NSW). Terrain additionally has small photo voltaic tasks in improvement in Western Australia (WA) and South Australia (SA).
The buy of Firm Power will add a complete of 6.1 GW of grid-scale battery vitality storage tasks to AGL’s portfolio with the group’s improvement pipeline together with 21 mid-sized battery tasks, from 200 MW and 500 MW and two to eight-hour storage length.
Again, a lot of the capability is in Queensland (2.7 GW) whereas there may be 2.3 GW in New South Wales. There can also be 500 MW of capability beneath improvement in Western Australia, and 300 MW in Victoria and South Australia.
The transaction additionally consists of the acquisition of a 250 MW wind farm undertaking in New South Wales.
AGL Managing Director and Chief Executive Officer Damien Nicks stated the acquisition would help the corporate’s transition from coal-fired energy technology to back-up renewables.
“Today’s announcement demonstrates our dedication to rising and accelerating our improvement pipeline, which is already 6.2 GW, in order that AGL is finest positioned to benefit from market circumstances and prioritize developments that create the perfect long-term worth and change into a pacesetter within the vitality transition,” he stated. “We imagine that this high-quality improvement pipeline presents a robust possibility for AGL, which focuses on strengthening capability wanted to help new renewable technology for our buyer base and portfolio as thermal baseload technology exits [National Electricity Market].”
Nicks stated AGL had already made good progress in its ambition to construct and function a number one battery vitality storage portfolio within the National Electricity Market with 800 MW of grid-scale batteries working or nonetheless beneath building.
The 250 MW/250 MWh Torrens Island battery in South Australia and the 50 MW/50 MWh Broken Hill battery in New South Wales turned operational in August 2023 and August 2024, and building started on the five hundred MW/1,000 MWh Liddell battery which was established in New South Wales.
It can also be creating the five hundred MW/2,000 MWh Tomago battery on the New South Wales Central Coast along with different main battery tasks in New South Wales, Victoria, South Australia, and Queensland.
AGL stated its proposed acquisition of agency Power and Terrain Solar is topic to customary circumstances, with completion anticipated earlier than the top of the yr.
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