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GLOBAL NEWS Iberdrola Australia to build Avonlie Solar Farm
R.Power expands into Romanian PV market
Iberdrola Australia has committed to building the Avonlie Solar Farm, a 245 MW(DC) solar project near Narrandera, New South Wales (NSW), Australia, after recently acquiring the project from RES. The project is expected to generate approximately 500 GWh/y of electricity, equivalent to powering more than 80 000 Australian households and avoiding over 157 000 tpy of carbon emissions. Construction work will include the installation of more than 450 000 solar panels and related balance of the plant. Construction is expected to begin in 4Q21, with initial energisation expected before the end of 2022. The project will create more than 230 full-time jobs during construction and many direct and indirect jobs during its estimated operational life of 35 years. As Australia’s ageing and unreliable coal-fired power plants inexorably approach retirement, the National Electricity Market will require significant investment in replacement capacity. Over the last two years, Iberdrola has achieved Final Investment Decision (FID) at the Avonlie Solar Farm in NSW and at the 320 MW Port Augusta Renewable Energy Park in South Australia, and also entered into a user agreement with TransGrid in relation to the 50 MW/75 MWh Wallgrove Grid Battery in NSW. Together, these projects reflect almost AUS$1 billion of capital commitments, adding approximately 600 MW of low-cost, reliable renewable energy capacity to the National Electricity Market.
R.Power, a Polish developer currently developing a portfolio of projects of over 5 GWp, has announced that it has signed a co-operation agreement with one of Romania’s leading developers of solar farms, wind farms, and hydroelectric investments. The companies want to develop a portfolio of photovoltaic (PV) projects with a total capacity of up to 100 MWp. Co-operation between the two companies includes the development of PV farm projects located throughout the entire country. “Romania is an emerging market with a great potential” says Przemek Pieta, Co-founder and CEO of R.Power. “We are negotiating with further developers in the PV sector, and are open to new business opportunities. We want to take advantage of the increasingly friendly legislative environment and support the authorities in achieving their sustainable development goals” he adds. R.Power has secured funds for the acquisition of further projects outside Poland. In June, the company established a programme to issue green bonds with a total nominal value of up to PLN 1 billion (€222 million). Bonds with a total nominal value of PLN 150 million (€33.2 million) were issued under the first series. Some of them will be used for the aforementioned development in Romania. According to the provisions of the European Green Deal, Romania must achieve the target of a 30.7% share of renewable energy in the energy mix by 2030. This means that over the next 10 years the increase in capacity from RES should be approximately 6 GW/y.
Masdar to develop solar projects in Republic of Iraq Masdar has announced that it signed a strategic agreement with the Republic of Iraq to develop five solar photovoltaic (PV) projects in the country with a combined capacity of 1 GW. Masdar has signed an implementation agreement with Iraq’s Ministry of Electricity and the National Investment Commission to develop the following projects: a 450 MW plant in the Dhi Qar Governate in southern Iraq; a 100 MW and a 250 MW plant, both located in Ramadi in central Iraq; a 100 MW plant in Mosul in the north; and a 100 MW plant in Amarah in the southeast. In June, Masdar announced the signing of Heads of
Agreement with the Ministry of Electricity and the National Investment Commission to develop projects in Iraq with a minimum total capacity of 2 GW. Iraq, the second-largest oil producer in the Organization of Petroleum Exporting Countries (OPEC), is looking to increase the percentage of renewables in its total power production capacity to 20 - 25% by the end of this decade to address supply issues and meet climate objectives, which would be equivalent to 10 GW to 12 GW. The country, which this year ratified the Paris Agreement on climate change, enjoys some of the most attractive solar irradiation levels in the region.
ENERGY GLOBAL AUTUMN 2021
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