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Powering Australia Renewables (PowAR), Australia’s largest renewable energy operator, intended to invest in a large wind farm in New South Wales (NSW) and several huge battery and storage projects, according to Renew Economy on August 3. PowAR’s CEO Geoff Dutaillis suggested that the company’s first major investment, expected within the next two months, would be a 396-megawatt (MW) wind project in Rye Park, located in north of Yass, NSW. Following that, a 1.3-gigawatt (GW) wind farm in Liverpool Plains was also in the plan, combining solar power and storage. PowAR was also mulling an investment in a 108MW Waddi wind and solar farm and a 410MW wind project in Palmer in Western Australia. Battery storage is another key aspect for PowAR to gain a competitive edge in green electricity, while the firm was considering potential storage projects in Victoria, Queensland, and Liverpool Plains. In addition, PowAR was also focusing on developing new storage technologies, such as solar thermal and compressed air storage.
On August 2, PowAR acquired the Australian assets of renewable energy producer Tilt Renewables [TLT:ASX] with the final offer of NZD2.27bn (USD1.59bn). The company’s takeover of Tilt’s assets expanded its renewables capacity by 50% to 2.2GW, topping among sustainable energy operators in Australia. PowAR’s Rye Park wind farm project was one of Tilt’s assets, for which Tilt inked a deal with Newcrest Mines previously, agreeing on 55% of output to Tilt. In addition to the Rye Park project, another up to 1,000MW complex in NSW is also under construction by Tilt. Dutaillis stated that PowAR would not stop investing in new sustainable projects to cut carbon emissions for the nation aimed to reduce greenhouse gas emissions by 26% to 28% below its 2005 levels by 2030.
Sources:
https://renewablesnow.com/news/mercury-powar-take-full-control-of-tilt-renewables-749690/
https://reneweconomy.com.au/low-wind-low-prices-and-connection-delays-crimp-tilt-profits/
