Investment group Foresight has entered into a joint venture with oil major Shell’s subsidiary, Shell Energy Operations, to acquire development rights for a 370MW of renewables project in Western Australia.
Oil and gas major Shell is to ramp up its renewable energies division in order to decarbonise its operations and strive towards a net-zero-by-2050 target.
Construction is already underway for 120MW project near Wandoan, marking utility-scale global debut for oil and gas major already active in the country after M&A flurry last year.
The acquisition follows Shell's purchase of Aussie electricity retailer ERM Power in late November and is part of the oil major's drive to establish a "one-stop energy shop" down under.
Solar Media's Liam Stoker and Andy Colthorpe take a look at how utilities across the world are increasingly deploying sizeable solar and/or storage plants, and discuss the rise of long-duration storage.
