Australia’s skyrocketing energy prices, partly due to rising commodity costs for natural gas and black coal, and its energy transition towards cleaner power, have seen mining and energy companies seriously consider their “green transformation”. In 2018, 38 large-scale renewable projects were completed in Australia, doubling investment in clean energy projects to $20 billion. The positive outlook for large-scale renewable projects continues with a further 87 large-scale renewable energy projects financially committed or under construction in 2019.
And although Australia still lags behind the United States in terms of corporate power purchase agreements (PPAs), the green electricity generated by these projects largely ends up in heavy industry’s operations, via a utility or grid provider.
In mining specifically, there’s been a flurry of renewables activity with a range of miners throughout Australia investing in renewable projects or signed PPAs with solar or wind IPPs. In the oil and gas space, companies like Santos announced that it will roll out 100% renewable energy to power its oil well operations in the Cooper Basin. Within Queensland specifically, Genex Power is developing a billion-dollar project to create a renewable energy hub about 280km northwest of Townsville. It includes a 250MW pumped storage hydro project, a 50MW stage one solar farm which is already operating, a further multi-staged solar project of up to 270MW and a stage three wind farm.
Coupled with these factors, is the important notion that solar and wind prices are the lowest they’ve ever been — cheaper than grid electricity. This has furthered the case for mining and energy companies, and Governments, to look at using large-scale renewables across all operations; whilst also continuing to investigate hydrogen opportunities.
With the above at hand, the Energy Mines and Money program showcases renewable projects, including hydrogen, that have had success in Australia and overseas, the benefits and challenges of this transition for mining, Oil & Gas companies, and also the downstream benefits of this transition for Australia’s climate change goals.
The Renewable and Hydrogen Project Opportunities session is relevant for:
- People interested in the development and/or use of renewable energy in the mining and energy space
- Providers of solar, wind and hydrogen energies
- Mining and energy development and production companies
- Investors, financiers and analysts
- Government, researchers, and consortium’s
- Technology, equipment and servicing companies that assist in the production of renewable energy, or whom use renewables
Hear from industry experts on hydrogen and renewable energy
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