Australia’s Clean Energy Council (CEC) has found that over 1.4GW of large-scale renewable energy generation projects worth over AU$3.3 billion (US$2.61 billion) were committed to in the third quarter of 2024.
According to the trade association’s latest Renewables Projects Quarterly Report, large-scale energy storage projects also saw 1,235MW/3,862MWh of energy output reach financial commitment during Q3 2024.
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The financial commitment for 1.4GW of large-scale renewable energy generation projects exceed the annual total for 2023, showcasing the continued growth in Australia’s renewable energy sector.
Iberdrola Australia’s Broadsound Solar Farm in Queensland was the largest generation project reaching financial commitment in Q3 2024, with a capacity of 376MW. The solar-plus-storage project, which includes a 180MW/260MWh battery energy storage system (BESS), started construction in early September.
Broadsound is located at Clarke Creek, around 860km northwest of Brisbane, and construction is anticipated to begin in mid-2026. Iberdrola Australia is working closely with the Barada Kabalbara Yetimarala (BKY) People on the site’s construction.
In Q3 2024, 10 projects were added to the construction pipeline, which stands at 1,188MW, with three, totalling 168MW, reaching the commission stage.
The CEC’s report states that, after flatlining in 2023, investment in onshore wind generation projects is steadily catching up to utility-scale solar PV in terms of cumulative capacity committed, with totals of 11.9GW and 14.9GW, respectively, since 2017.
Q3 2024 was also a big quarter for energy storage technologies, with Australia setting a new record for a rolling 12-month quarterly average with 3,282MWh.
You can read the full article on our sister site Energy-Storage.news.
