Big names target Australian renewables
Falling solar and battery storage costs, combined with a desire to save on infill gas use, are luring majors into Australia’s renewables generation sector
Upstream operators BP, Shell, Eni and Total have upped their renewables investment markedly the past 18 months, while local independent producers Santos and Woodside are also starting to invest in green technologies. Only 1GW of Australia's installed renewable energy capacity is currently owned by the upstream majors, but significant forecast investment means they will be the dominant renewable developers in Australia by end-2020, says consultancy Rystad Energy. "The Australian renewable energy pipeline is surging above 100GW of solar, wind and utility storage projects with investment matching upstream capex at $10bn per annum," says Gero Farruggio, Rystad's head of Australia and global head
Also in this section
11 October 2024
Industry investing in significant pipeline infrastructure to further improve the efficiencies of its network and cut costs
10 October 2024
The Gulf Energy Information Excellence Awards 2024 celebrated the industry's top innovators at a gala in Houston, recognising achievements in categories ranging from digital transformation to sustainability
10 October 2024
Either Donald Trump or Kamala Harris will enter the White House as president in January 2025, and the gulf between their energy and climate policy agendas will have global implications
