PROJECT UPDATES - ALTENERGY

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PROJECT UPDATES - ALTENERGY
Project Updates
Week ending 19 March 2021

AEMC clarifies obligations on
weather-reliant generators
11 March
Weather-reliant generators such as large scale         in their natural resource (such as the sun or
solar and wind farms will be prevented from            wind).
turning down or off without informing the
electricity market operator under a final rule         The Commission’s rule change has the effect
to bolster system security.                            of requiring semi-scheduled generators to
                                                       follow their available resource except when
The final rule is in response to a rule change         AEMO decides there should be a semi-
proposed by the Australian Energy Regulator            dispatch interval, when output should be
(AER) and developed following a request from           limited to the cap specified by AEMO. This
the former Council of Australian Governments           could happen because of a network constraint
Energy Council to develop rule changes for             that limits the dispatch of electricity or
semi-scheduled generators to improve their             because it is uneconomic to dispatch a semi-
functioning within the national electricity            scheduled generator given to the generator’s
market (NEM).This final rule acts on one of            electricity market offers.
the Energy Security Board’s recommended
interim security measures, which aim to                The AER’s rule change request was fast
improve visibility of and confidence in system         tracked. This allows the AEMC to proceed
security services while new market                     directly to publishing a draft determination
arrangements are being developed through               and draft rule. The AEMC decided to fast track
the post 2025 market design work.                      this rule change in recognition of the
                                                       significant and extensive consultation by the
Semi-scheduled generators include wind and             AER in developing the rule change request.
solar plants that are reliant on weather
conditions to operate. The amount of semi-             The National Electricity Rules allow the AEMC
scheduled generation has risen rapidly in              to fast track a rule change submitted by
recent years. It now accounts for a sizeable           another electricity market body when the
share of generating capacity in the NEM and is         market body, in this case the AER, has
forecast to rise much further still.                   consulted with the public on the nature and
                                                       content of the request before making that
The Commission’s final determination will              request.
address risks to system security and market
efficiency from semi-scheduled generators              Source: AEMC
turning down or off without informing the
Australian Energy Market Operator (AEMO).
The final rule does this by requiring semi-
scheduled generators to meet a dispatch
level, or cap, for how many megawatts of
electricity they produce subject to variations

Page 1            (Click on relevant project links to go to online Project Database)
Tilt Renewables Board                                   within or above the Independent Adviser’s
                                                        value range, the Non‐Conflicted Directors1 of
recommends acquisition                                  Tilt Renewables intend to vote their shares in
proposal from a consortium of                           favour of the proposed Scheme and
                                                        recommend that other shareholders also vote
Powering Australian                                     in favour.
Renewables and Mercury NZ
15 March                                                Tilt Renewables shareholders will have the
Tilt Renewables Limited (Tilt Renewables) has           opportunity to vote on the Scheme at a
entered into a Scheme Implementation                    meeting likely to be held in around four
Agreement (SIA) with Powering Australian                months’ time. Therefore, Tilt Renewables
Renewables (PowAR) and Mercury NZ Limited               shareholders do not need to take any action
(Mercury) (together, the Consortium) under              at this time.
which it is proposed that PowAR will
effectively acquire Tilt Renewables’ Australian         The Scheme is subject to customary
business and Mercury will acquire Tilt                  conditions, some regulatory approvals
Renewables’ New Zealand business. This                  (including Overseas Investment Office (NZ)
transaction will be implemented by way of               and Foreign Investment Review Board (AU)),
Scheme of Arrangement (the Scheme) where                shareholder approval and ultimately High
Tilt Renewables shareholders will receive               Court approval in New Zealand.
NZ$7.80 per share in cash.
                                                        1 Non‐Conflicted Directors refer to Directors
Tilt Renewables’ decision to enter into the SIA         of Tilt Renewables who have not abstained
with the Consortium follows a competitive               from giving a recommendation due to a
sale process during which Tilt Renewables               conflict of interest. The only Conflicted
received multiple binding proposals to acquire          Director was Vincent Hawksworth, who is also
the company.                                            CEO of Mercury.

Bruce Harker, Chair of Tilt Renewables, said            Source: Tilt Renewables
“This compelling acquisition proposal is a
result of Tilt Renewables’ constant focus on
delivering long‐term value for shareholders             PROJECT NEWS
and the Board is pleased that, with these new           Last week it was announced that Green Gold
owners, the transition to renewables in                 Energy and Risen Energy Australia had
Australia and New Zealand will continue to              executed an agreement to jointly develop and
accelerate.”                                            construct 16 solar projects of approximately
                                                        4.95MW AC each in Australia within the next
PowAR has entered into a voting deed with               two years for a total project capacity of
Infratil. Under the terms of the deed, subject          80MW AC/100MW DC. The first six 4.95MW
to customary conditions, Infratil has agreed to         projects in Stage 1 in settlement phase are:
vote its entire 65.5% shareholding in Tilt              • Elwomple Solar Farm
Renewables in favour of the Scheme.                     • Mannum Solar Farm
                                                        • Tailem Bend 1 Solar Farm
Mercury, currently Tilt Renewables’ second              • Tailem Bend 2 Solar Farm
largest shareholder, behind Infratil, with a            • Waterloo Solar Farm
19.92% shareholding has agreed to vote its              • Ceduna Solar Farm
entire shareholding in favour of the Scheme,
as a separate interest class.                           Subscribers can find information on each of
                                                        these projects in our database at
In the absence of a superior proposal, and              www.altenergy.com.au.
subject to the Scheme Consideration being

Page 2             (Click on relevant project links to go to online Project Database)
Powering Australian                                     Scheme) to acquire all the outstanding shares
                                                        not already owned in Tilt.
Renewables (PowAR) extends
its leadership role in                                  Under the terms of the proposed transaction,
                                                        PowAR will take ownership of all of Tilt’s
Australia’s clean energy                                Australian businesses and Mercury NZ will take
transition with NZ$3 billion Tilt                       ownership of all of Tilt’s New Zealand businesses.
deal                                                    PowAR Chairman Cheryl Bart said: “This
15 March                                                exciting transaction is absolutely aligned to
PowAR and Mercury NZ enter binding                      our mission of leading the transition to a
agreement to acquire Tilt Renewables                    decarbonised, decentralised and digitised
                                                        energy system – one that will deliver all
Highlights                                              Australians clean, reliable and affordable
• PowAR and Mercury NZ have entered a                   power. Tilt has built a world-class portfolio of
Scheme Implementation Agreement to acquire              high-quality renewable energy assets and
NZX- and ASXlisted Tilt Renewables Ltd for              development      opportunities      that    will
NZ$7.80 per share in cash, representing a               complement our existing assets and ensure
market value of NZ$2.96 billion                         we continue to drive investment in renewable
• When completed, PowAR will take ownership             energy as a pathway to Australia’s clean
of all of Tilt’s Australia businesses and Mercury       energy future.”
NZ will take ownership of all of Tilt’s New
Zealand businesses                                      Mercury Chief Executive Vince Hawksworth
• The transaction confirms PowAR’s standing             acknowledged Tilt’s successful renewable
as Australia’s No 1 owner and operator of wind          energy generation development program in
and solar generation, with installed capacity of        New Zealand and Australia, which he said was
1,313MW and a world-class development                   a reflection of great work by the management
pipeline of more than 3,500MW                           and team at Tilt over the past five years.
• The Board of Tilt has recommended                     “Throughout this transaction, Mercury has
shareholders vote in favour of the Scheme               ensured that these New Zealand assets stay in
subject to an Independent Adviser’s report and          New Zealand ownership. Completion of this
in the absence of a superior offer                      transaction will position Mercury to make an
• Tilt’s majority shareholder, Infratil Ltd, has        even more significant contribution to New
signed a voting deed to vote its 65.5%                  Zealand’s de-carbonisation goals,” he said.
shareholding in Tilt in favour of the Scheme
• Mercury NZ has also agreed to vote its 19.9%          Tilt is a highly experienced developer and
shareholding in Tilt in favour of the Scheme            operator of renewable generation assets
                                                        across Australia and New Zealand, with total
Powering Australian Renewables (PowAR) will             operating capacity of 836 MW across seven
cement its position as the largest owner and            wind farms in operation and a two further
operator of wind and solar generation in                wind farms in commissioning. The company
Australia and a leader in Australia’s                   has a development pipeline of more than
accelerating transition to clean energy after           5,000 MW1 capacity across various
reaching agreement to acquire the Australian            technologies, including wind, solar and
assets of Tilt Renewables Ltd (Tilt).                   battery storage and peaking capacity.

PowAR – a partnership between QIC, the                  The proposed transaction, when completed,
Future Fund and AGL Energy Ltd – today                  will reinforce PowAR’s standing as Australia’s
announces that it has joined with Mercury NZ            largest owner and operator of renewable
Limited (together the Consortium) to enter a            energy, with installed capacity of 1,313MW
Scheme Implementation Agreement (SIA or                 across seven operating wind and solar farms,

Page 3             (Click on relevant project links to go to online Project Database)
with a further two wind farms in the final              PowAR Chief Executive Officer Geoff Dutaillis
stages      of     commissioning.     PowAR’s           said PowAR valued the outstanding business
development pipeline would represent the                that Tilt and its management team had
largest, high-quality portfolio of renewable            created in Australia, and expected no material
energy development opportunities in                     change to Tilt’s strategy.
Australia, at more than 3,500MW across wind,
solar, battery storage and peaking capacity.            “Tilt is a great business, with a passionate,
                                                        committed team that has an enviable track-
QIC Head of Global Infrastructure Ross Israel           record. We intend to build the Australian
said:    “This    acquisition      is   another         business around the existing team’s expertise
demonstration of QIC's deep energy sector               and experience and extend our lead as the No
capability and our origination driven by sector         1 owner and operator of wind and solar
centric, thematic-based investment strategy.            generation in Australia. PowAR’s strong
Through PowAR, we look forward to                       capital partners and track record of delivery
leveraging our experience in the energy sector          on development projects underpins our
and sustainable infrastructure, and working             confidence that we will be able to realise the
closely with our partners, to drive the growth          full    potential   of    Tilt’s  outstanding
of this high-quality renewable energy                   development pipeline,” Mr Dutaillis said.
platform through its significant development
pipeline and portfolio of existing assets.”             Source: PowAR

The Future Fund’s Head of Unlisted
Infrastructure and Timberland James Fraser-             NEW PROJECT
Smith said: “Building on the success of
PowAR, the acquisition of Tilt provides the
                                                        Melton Renewable Energy Hub
                                                        Location: Plumpton, Victoria
Future Fund with increased exposure to a
                                                        Capacity: 600 MW
secular theme that is consistent with our long-
                                                        Developer: Syncline Energy
term investment horizon. We are very pleased
                                                        Status: Referral submitted to federal
to be able to invest at scale in a high-quality
                                                        government under EPBC Act
Australian renewable energy platform and
                                                        Description: Syncline Energy is proposing the
look forward to supporting the build out of
                                                        creation of the Melton Renewable Energy Hub
Tilt’s significant development pipeline.”
                                                        to include a behind-the-meter 12.5 MW solar
                                                        farm and 600 MW battery storage facility. The
AGL CEO and Managing Director Brett
                                                        proposed location is zoned Green Wedge
Redman said: “This is an exciting opportunity
                                                        Zone within the Melton Shire Council
for PowAR to further extend its leadership in
                                                        municipality. The project development
renewable energy generation. For AGL,
                                                        footprint is approximately 36.3ha and will
participating in this acquisition aligns with our
                                                        include a solar array in the west, and battery
climate commitments and builds on our
                                                        energy storage system in the east. A control
legacy as Australia’s largest private investor in
                                                        room will also be located in the east, and a
renewable energy, and largest commercial
                                                        powerline connection will extend further east.
solar provider. The proposed acquisition by
                                                        Contact: Phil Galloway
PowAR will provide more renewable energy
                                                        Director
options in AGL’s generation portfolio, further
                                                        Syncline Energy
supporting our orderly transition away from
                                                        Email: phil@synclineenergy.com.au
coal-fired power and responding to
community expectations and our customers’
increasing demand for cleaner, reliable,
affordable energy.”

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QEM to Pursue Green                                     successful completion of the financial studies
                                                        to be conducted by E2C.
Hydrogen Strategy
15 March                                                QEM Managing Director Gavin Loyden said
- QEM commits to undertake studies into                 the Company was delighted to be working
“green” hydrogen opportunities at Julia Creek           with experts who possess substantial
- Progression of strategy comes amid buoyant            expertise in the hydrogen field.
market     conditions,     supportive   policy
environment and optimal project location                “The commissioning of these studies will lay
- Hydrogen strategy to underpin the                     the groundwork to advance our green
continued development of the Julia Creek                hydrogen strategy at Julia Creek, amid
vanadium and oil shale project                          increasingly buoyant market conditions and
- QEM will commence discussions with the                the project’s optimal location and resource
recently appointed Queensland Minister for              profile to produce hydrogen on-site,” Mr
Energy, Renewables and Hydrogen on the                  Loyden said.
approval process
                                                        “For example, the Queensland state
QEM Limited (ASX: QEM) (“QEM” or                        government established a ministry for
“Company”) is pleased to announce that it has           hydrogen in November 2020, as the state
commenced studies into green hydrogen                   government seeks to encourage investment
opportunities on site at QEM’s flagship 100%-           into the bourgeoning market."
owned Julia Creek vanadium and oil shale
project in North Queensland.                            “Crucially, the hydrogen strategy aligns with
                                                        the broader strategic direction of Julia Creek,
The studies will investigate the financial and          as QEM looks to target both the liquid fuels
regulatory requirements of the Company to               and renewable energy sectors."
produce hydrogen on site at Julia Creek using
a “green” solar-powered electrolyser. It is             “We remain committed to continuing the
envisaged that the hydrogen would initially be          development of Julia Creek to unlock the
used as a support to the energy needs of                substantial latent value the vanadium and oil
other resources projects located in the North           shale project possesses.”
West Minerals Province of Queensland, but
ultimately for the hydrogeneration of the               Source: QEM
Company’s raw oil into transport fuels.

To assist in its assessment of capital and
operating costs, the Company has appointed
E2C Advisory Pty Ltd ("E2C"). E2C previously
                                                        Fortescue strengthens its
assisted the Company with the review of a               target for carbon neutrality by
processing technology utilising a hydrocarbon
solution for oil shale extraction (refer to ASX
                                                        2030
                                                        15 March
announcement dated 14 April 2020) and have
                                                        For and on behalf of the Board, Dr Andrew
extensive experience in electrolysers used for
                                                        Forrest, Chairman of Fortescue Metals Group
hydrogen production.
                                                        Ltd (Fortescue, ASX: FMG) has today
                                                        announced Fortescue’s target to achieve
QEM will commence proactive discussions
                                                        carbon neutrality by 2030, ten years earlier
with the Queensland state government on
                                                        than the previous target.
progressing the approval process to access
water     resources    for   the     potential
                                                        Fortescue Future Industries (FFI), a wholly
development. The Company will focus on
                                                        owned subsidiary of Fortescue, will be a key
securing the relevant approvals following the
                                                        enabler of this target through the

Page 5             (Click on relevant project links to go to online Project Database)
development of green electricity, green                 building on the industry leading initiatives
hydrogen and green ammonia projects in                  that have previously been announced. We are
Australia.                                              working towards decarbonising our entire
                                                        mobile fleet and fixed plant through the next
Dr Forrest said, “We have joined the global             phase of hydrogen and battery electric energy
battle to defeat climate change. We are                 solutions.”
trialling and demonstrating green hydrogen
technologies in global-scale commercial                 Fortescue is seeking to move from being a
environments, while also rapidly evolving into          major consumer of fossil fuel with a current
a green hydrogen and electricity producer of            trajectory of more than 1 billion litres a year
similar scale.”                                         of diesel being used across the operations if
                                                        no remedial action is taken – to a major clean
“Our commitment to demonstrate green                    and renewable energy exporter.
hydrogen’s economic value in world-scale
operations, and become a major energy                   FFI is advancing projects across Australia
exporter,     while       implementing     the          including Tasmania, to build large-scale
considerable facilities to support both, means          renewable energy and green hydrogen
that Fortescue has emerged not simply as a              production capacity. This will expedite the
thought-leader and investor, but uniquely as            substitution of green hydrogen and green
an executor of major green hydrogen                     ammonia for carbon-based fuels. These
projects.”                                              projects will, with the support of Australia’s
                                                        governments, contribute to a significant
“Our aim is to provide the two “missing links”          reduction in national carbon emissions.
in the climate change battle, to create both
the demand and the supply of green                      Through FFI and its highly committed
hydrogen. Due to its high energy performance            Operations team, Fortescue is undertaking to
and environmental neutrality, green hydrogen            deliver several key projects by the stretch
and direct green electricity has the potential          target of 30 June 2021. This will underpin its
to eliminate fossil fuels from supply chains.           pathway to decarbonisation.
Once established, these advances will also
substantially reduce Fortescue’s operating              These projects include:
costs.”                                                 • Developing a ship design powered by green
                                                        ammonia and trialling that design in new
“Fortescue’s strong focus on green energy               ammonia engine technology, at scale
and our carbon neutrality targets will sit              • Testing large battery technology in our haul
alongside our continuing excellence in, and             trucks
commitment to, our iron ore business. While             • Trialling hydrogen fuel cell power for our
our green energy and industry initiatives may           drill rigs
one day significantly outscale our iron ore             • Trialling technology on our locomotives to
business due to the global demand for                   run on green ammonia
renewable energy, our commitment to iron                • Conducting trials to use renewable energy in
ore and resources globally remains                      the Pilbara to convert iron ore to green iron at
indefeasible,” said Dr Forrest.                         low temperatures, without coal.

Fortescue Chief Executive Officer, Elizabeth            Ms Gaines “Each of these projects will
Gaines, said, “Fortescue has a proud history of         contribute to the world’s inexorable march to
setting ambitious stretch targets and we are            carbon neutrality. Fortescue will establish that
pleased to announce this new industry-                  the major steel, truck, train, ship and mobile
leading target, with detailed planning                  plant industries can be operated with
underway and projects identified to support             renewable, environmentally friendly energy.
our operational emissions reduction goals,              This will be possible as a result of these

Page 6             (Click on relevant project links to go to online Project Database)
ground-breaking Fortescue trials. Each will be         juwi to construct solar park for
tested by Fortescue using commercial-scale
equipment to prove that the demand for                 Pacific Energy (KPS) at Iluka’s
direct green electricity, green hydrogen and           Jacinth Ambrosia Project
green ammonia could one day be as large as             15 March
the fossil fuel industry.”                             The project will integrate 3.4MW of solar
                                                       generation into the existing 12 MW Diesel
“These projects are in addition to Fortescue’s         Power Station.
significant investment with our partners into
energy      infrastructure,   including    the         Juwi Renewable Energy Pty Ltd, the Brisbane
Chichester Solar Gas Hybrid Project and                based subsidiary of German renewable energy
Pilbara Energy Connect program,” Ms Gaines             specialist juwi AG, signed an agreement with
said.                                                  Pacific Energy (KPS) to construct a medium
                                                       penetration solar/diesel hybrid power
Independent verification will be employed to           solution for the Jacinth Ambrosia Project (JAP)
monitor the Company’s march to carbon                  in South Australia. KPS will own and operate
neutrality. Fortescue will also incorporate            the JAP hybrid project, which after completion
these carbon emissions targets into its formal         is expected to deliver almost 21 percent of
remuneration structure, including short and            the mine site’s annual electricity needs. It is
long-term incentives across the Company.               scheduled to be operational later this year.
Source: Fortescue Metals Group                         Dave Manning, Global Head of Hybrid at juwi
                                                       said “Hybrid power solutions offer the
                                                       potential to significantly reduce the amount
Event invitation - Metz Solar                          of fossil fuel power generation at Iluka’s
                                                       operations” juwi looks forward to working
Farm supplier information                              with KPS to deliver sustainable energy for the
session                                                minesite, and further reduce Iluka’s carbon
Beon Energy Solutions invites Businesses in            footprint.
Armidale and surrounding areas to come and
learn about the opportunities available to             Another clear focus of juwi’s business
become a supplier to the Metz Solar Farm,              activities in Australia, besides providing
commencing construction in April 2021. The             Engineering, Procurement and Construction
project is seeking suppliers of a range of             (EPC) as well as Operations and Maintenance
services from fencing, electrical & plumbing           services and the development of greenfield
services, construction and waste management            solar and wind power plants, is the
to mechanical support, transport, and                  construction of hybrid power plants for off-
cleaning service.                                      grid industries, for example mines. In such
                                                       projects     solar    power     plants    are
Time: 6.15 p.m. to 7:15 p.m.                           complemented with storage units. These units
Date: Tuesday, March 23, 2021                          can then be intelligently integrated into the
Venue: Armidale City Bowling Club 92 – 96              existing isolated network by using a juwi-
Dumaresq St., Armidale                                 developed software called “juwi Hybrid IQ“.

Book      your     free    ticket     here             “We have proven what renewable energy
https://www.trybooking.com/events/landing?             solutions can achieve through our worldwide
eid=732008&                                            renowned project DeGrussa. We continue to
                                                       build upon this accomplishment”, says
                                                       Stephan Hansen, responsible juwi board
                                                       member for international business. “The
                                                       strong point in our business strategy is that

Page 7            (Click on relevant project links to go to online Project Database)
we can provide a comprehensive service                  It is the first green ammonia project of its
portfolio regarding project development, EPC            scale to progress to engineering design
and O&M services to our customers through               globally, firmly placing it at the forefront of
our integrated business model.”                         the emerging hydrogen industry.

juwi has already achieved remarkable success            The project received financial support under
in selected markets. Currently, the                     the     South     Australian    Government’s
construction of solar park Kozani (Greece) is in        Renewable Technology Fund, with a $4.7
the project pipeline. With a capacity of 204            million grant and a $7.5 million loan
megawatts, it will become the largest solar             announced      in    February    2018.   The
park in southeast Europe. In the coming years,          Government has also brought forward $2.15
juwi will construct a solar portfolio amounting         million in grant funding to accelerate the
to a capacity of 500 megawatts in the US for a          project’s design phase.
regional energy supplier from Colorado. Since
the founding of the company in 1996, juwi               H2U have appointed Australian global
has, in sum, planned and developed close to             engineering firm Worley as the contractor to
2,000 solar power plants of various sizes with          carry out the FEED study.
an overall capacity of more than 2,700
megawatts in more than 25 countries.                    Minister for Energy and Mining Dan van Holst
                                                        Pellekaan congratulated H2U on this
The JAP project in Australia will be the sixth          milestone and said the project continues to
hybrid project carried out by juwi.                     set the bar for emerging hydrogen projects
                                                        across the globe.
Source: juwi
                                                        “The Marshall Government has been
                                                        unwavering in its vision and support to attract
                                                        investment and jobs with a focus on securing
                                                        world-leading, renewable energy projects,’’
Green hydrogen plant is global                          he said.
pacesetter
15 March                                                “The Government welcomes the news that
A world-leading green hydrogen project,                 Mitsubishi Heavy Industries has invested in
located on South Australia’s Eyre Peninsula,            H2U to progress the project, supplying key
has commenced its critical Front-end                    technologies along with ammonia technology
Engineering and Design (FEED) phase,                    providers who are partnering with H2U.
ensuring the project remains one of the most
advanced green ammonia projects in the                  “We will be investing $37 million to improve
world.                                                  and upgrade the nearby Port Bonython jetty,
                                                        helping unlock significant investment and
The Eyre Peninsula Gateway Hydrogen Project             export opportunities for South Australia in the
is being developed by Australian company                rapidly emerging green hydrogen export
Hydrogen Utility Pty Ltd (H2U). The $240                industry.
million project was launched in 2020 with a
goal of installing 75MW of electrolysers in the         “Creating     ecologically-responsible    and
renewable energy rich Upper Spencer Gulf,               sustainable green energy in South Australian
capable of producing enough hydrogen to                 provides for a stronger, more reliable local
create 40,000 tonnes of green ammonia each              network as well as creating exciting business
year, powered by renewable energy sources               opportunities for investors.
including wind and solar.

Page 8             (Click on relevant project links to go to online Project Database)
“We grabbed the world’s attention with our              feasible or where overhead lines would have a
vision to become a 100 per cent net-                    lower impact.
renewable energy state by 2030 and now,
with support from investors from across the             The project team is continuing conversations
globe, including Japan and Germany, that                with landholders whose property may be
vision is becoming reality.’’                           suitable     to   host     the   transmission
                                                        infrastructure – landholders will be treated
Source: SA Government                                   fairly and appropriately compensated.

                                                        Local communities and people with an
                                                        interest in the project can chat with the team
                                                        and learn more at a series of pop-up events
Progressing offshore wind                               planned in the region in late March and April.
project transmission route
16 March                                                The outdoor COVIDSafe pop-up events are
Star of the South – Australia’s first offshore          being held in Woodside Beach, Yarram,
wind project – has confirmed a transmission             Morwell and Lakes Entrance, as well as an
route for further analysis to connect the               online webinar with a presentation and Q&A.
electricity generated by wind turbines off the
south coast of Gippsland into the grid in the           Star of the South will undergo a
Latrobe Valley.                                         comprehensive coordinated government
                                                        environmental assessment through an
Harnessing Gippsland’s strong offshore winds            Australian Environmental Impact Statement
in Bass Strait, Star of the South would power           and Victorian Environment Effects Statement.
Victorian homes and create long-term local              There’ll be many opportunities for formal
jobs once it’s up and running.                          public feedback over the coming years as part
                                                        of this process.
Following a rigorous 12-month assessment on
three potential transmission route options,             Site investigations and data collection are
Star of the South today shared details about            underway with some of Australia’s leading
the selected route which will now be                    scientists and researchers such as CSIRO and
progressed through detailed planning,                   Monash, Deakin and Curtin universities, to
approvals and design.                                   support these environmental and planning
                                                        assessments.
The transmission route would come to shore
around Reeves Beach and travel underground              The project’s studies include a world-class
through Darriman, Giffard West and                      marine     survey    program,        collecting
Hiamdale, connecting into one of the                    environmental data on the underwater world
strongest points in the National Electricity            and building scientific knowledge of key
Market.                                                 species and ecosystems in Bass Strait.

A detailed options assessment on three                  Offshore wind is one of the world’s fastest
different routes considered feedback from               growing renewable energy technologies and is
landholders,    local    communities       and          a proven driver of jobs and investment in
government, as well as site investigations and          regional communities.
technical studies undertaken throughout
2020.                                                   To learn more about the project and to
                                                        register to attend any of the events and
Star of the South has committed to using                webinar starting on Monday 22 March 2021,
underground cables, unless it’s not technically         visit starofthesouth.com.au.

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Quotes attributable to Star of the South Chief          expected to reach commercial operations in
Development Officer, Erin Coldham                       the coming weeks, being the start of when the
“This is another important milestone for                project is capable of exporting power at full
Australia’s first offshore wind project -               capacity to the grid.
selecting a transmission route to take through
planning, approvals and design.                         MPower commenced the design and
                                                        construction of the South Hummocks solar
“On balance, the route we’ve selected for               project, together with another 5MWac
further investigation is the best overall               project at Kadina in South Australia last year
outcome and we’re working with landholders              after executing contracts with Astronergy
whose property may be suitable to host the              worth a combined value of approximately $9
underground cables.                                     million.

“Star of the South would harness Gippsland’s            In addition to developing its Build Own
strong offshore winds in Bass Strait –                  Operate strategy, MPower has an active
powering homes into the future and creating             pipeline of new project opportunities in the
long-term local jobs for the region.                    tendering phase which, together with
                                                        recurring service and maintenance work,
“We’re excited to get out and talk with people          underpins the Company’s future growth.
after the challenges of coronavirus and
encourage everyone to come along to our                 “As today’s successful connection confirms,
events to learn more about offshore wind and            5MWac renewable energy projects are
what it means for Gippsland.”                           MPower’s sweet spot and we are well
                                                        advanced with our plans to secure options
Source: Start of the South                              over new project sites in order to progress our
                                                        Build Own Operate strategy,” Nathan Wise
                                                        added.

                                                        Source: MPower
Grid connection achieved at
South Hummocks Solar Farm
16 March
MPower, Australia’s leading specialist
renewable energy, battery storage and
                                                        ACCIONA partners with Korea
microgrid business, is pleased to announce it           Zinc to build MacIntyre Wind
has successfully connected a 5MWac solar                Farm in Australia
project at South Hummocks in South Australia
                                                        16 March
to the national electricity grid.
                                                        - The international metals group will acquire a
                                                        30% stake in ACCIONA's largest wind farm
Chief Executive Officer Nathan Wise
                                                        - ACCIONA will own the remaining 70% of the
commented: “It’s great to see MPower
                                                        project, underpinned by a 400MW Power
achieve another successful milestone on a
                                                        Purchase      Agreement      with     CleanCo,
5MW solar project. The successful delivery of
                                                        Queensland's newest public electricity
renewable     energy    projects   highlights
                                                        company
MPower’s capability and dependability
bringing projects of this size to market, on
                                                        ACCIONA and international metals group Korea
time and to budget.”
                                                        Zinc Co. have reached an agreement to jointly
                                                        develop the MacIntyre Wind Farm in
Grid connection, including first energisation of
                                                        Queensland (923MW), one of the largest
the solar farm, follows the commissioning
                                                        renewable energy projects in Australia, and the
phase that started last month. The project is
                                                        largest energy project in ACCIONA’s portfolio.

Page 10            (Click on relevant project links to go to online Project Database)
Under the agreement Ark Energy, a subsidiary            Queensland’s goal of achieving a 50% share of
of Korea Zinc Co., will take a 30% stake in             renewable     energy      in  its  electricity
MacIntyre Wind Farm, with ACCIONA                       consumption by 2030. Construction of the
retaining 70%. ACCIONA will remain                      wind farm complex is scheduled to begin in
responsible for managing the project through            the second half of this year.
its development, construction, operations and
maintenance stages.                                     The two projects will generate up to 400 jobs
                                                        during throughout their useful lives and
ACCIONA has secured a long-term Power                   provide an important economic boost to the
Purchase Agreement (PPA) with CleanCo,                  local community, with local investment
Queensland’s newest public electricity                  exceeding AU$500 million (€325 million).
company, which will acquire the annual
production from 400MW of ACCIONA's                      The wind farms will install 180 Nordex Delta
facilities for ten years. MacIntyre Wind Farm           4000 turbines of 5,7MW, the latest generation
will also power Sun Metals Corporation, a               of turbines by the German manufacturer.
Korea Zinc Co. subsidiary in Australia, helping
the metals group meet its target of obtaining           Construction is slated to start in the second half
100% of its energy from renewables by 2040.             of this year, with the lion’s share of investment
                                                        in 2022 and 2023. The wind farm complex will
José Manuel Entrecanales, ACCIONA Chairman              start operating in stages to ensure connection to
and CEO, said: "Having Korean Zinc as a partner         the grid with full technical guarantees for the
in this landmark project is a privilege and             state electricity system. The complex will be
marks a milestone in MacIntyre's development.           fully operational by 2024.
Our companies share a common goal to
pioneer clean energy and this partnership is            Source: ACCIONA
the perfect example of how two companies
from different sectors can work together to
deliver flagship renewables infrastructure”.

Yun B. Choi, Korea Zinc Co. CEO, said: “We are
                                                        AGL connecting WA regional
very pleased to have established a long-term            communities in Australia’s
relationship to carry out this exciting project,        largest SPS rollout
unique in its size, which represents a major
                                                        17 March
step forward for our respective businesses.
                                                        AGL will help transform energy reliability in
Our participation in the MacIntyre project
                                                        Western Australia’s regional communities,
reflects our commitment to renewable energy
                                                        after being appointed as a supplier by
in Australia”.
                                                        Western Power to deliver Australia’s largest
                                                        rollout of stand-alone power systems (SPS).
In addition to the MacIntyre Wind Farm,
ACCIONA will build the Karara Wind Farm
                                                        The $17 million program, developed by state-
(103MW), owned by CleanCo. The wind farms
                                                        owned corporation Western Power, will
are adjacent to each other. Together,
                                                        replace around 330km of overhead
MacIntyre and Karara complex will generate
                                                        powerlines with stand-alone power systems,
clean electricity to supply nearly 700,000
                                                        providing continuous, efficient off-grid power.
homes and avoid the emission of around 3
million tonnes of CO2 each year.
                                                        AGL General Manager for Commercial and
                                                        Industrial Customers, Ryan Warburton said AGL
STRONG INVESTMENT
                                                        is excited to work with Western Power on this
The two projects will jointly mobilise
                                                        important project, which will improve how
investments of around AU$2 billion (€1.3
                                                        regional households and businesses connect.
billion) and will be key to the State of

Page 11            (Click on relevant project links to go to online Project Database)
“As self-sufficient generators, stand-alone             community’s needs through the use of
power systems utilise solar and battery                 alternative technologies.”
technology to improve reliability and provide a
cleaner source of electricity,” Mr Warburton            AGL has also been chosen as one of five
said.                                                   companies to be included on Western Power’s
                                                        panel of preferred suppliers, providing priority
“Our regional and remote communities face               access for bidding on new tenders until the
some of the most challenging connection                 end of 2022.
issues, with regular outages, longer fault
response times and vulnerability to extreme             Source: AGL
weather events frequently impacting supply.

“This roll-out will help make these issues a
thing of the past and ensure communities
from Kalbarri to Albany have energy they can
                                                        Landmark signing marks
rely on.                                                international confidence in
                                                        Queensland hydrogen
“AGL has been a supplier of stand-alone
                                                        17 March
power systems for three years, successfully
                                                        Queensland’s hydrogen credentials have hit
overseeing 54 stand-alone power systems in
                                                        another milestone with the signing of a
the Cooper’s Basin project for Santos.
                                                        memorandum of understanding with a major
                                                        Japanese multinational in Gladstone today.
“As part of AGL’s Climate Statement, we are
committed to supporting Australia’s energy
                                                        Sumitomo Corporation has formalised its
transition through technologies, like stand-
                                                        partnership with Gladstone Ports Corporation,
alone systems, which lower emissions and
                                                        Gladstone Regional Council, CQUniversity
have a meaningful impact on communities.”
                                                        Australia and Australian Gas Industry Group to
                                                        develop Australia’s first hydrogen ecosystem
Western Power CEO Ed Kalajzic said Western
                                                        in Central Queensland.
Power had been on an innovative drive to
evolve the south-west grid to meet the
                                                        Minister for Energy, Renewables and
changing energy demands of our customers,
                                                        Hydrogen Mick de Brenni said the
now and in the future.
                                                        collaboration shows international confidence
                                                        in Queensland as a global destination for
“We’re ahead of many other energy utilities in
                                                        investment and as a future reliable renewable
implementing new technologies and are
                                                        energy exporter.
leading the way to a cleaner and more
resilient energy supply for the next generation
                                                        “Today’s signing is a major endorsement of
and SPS is an excellent example of how we’re
                                                        international investor confidence, that a global
achieving this.
                                                        corporation in Sumitomo is working with
                                                        Queensland and local companies to deliver
“Since we began the Great Southern trial in
                                                        renewable hydrogen,” Mr de Brenni said.
2016, the project has rapidly progressed due
to the fantastic outcomes it realises for our
                                                        “We know countries around the world, like
customers and the cost savings it means in
                                                        Japan, have mandated decarbonisation and
infrastructure maintenance and renewal.
                                                        set clear targets – and they’re looking to
                                                        Queensland for help to meet them.
“We’re proud to have Australian private
industry such as AGL helping to deliver part of
                                                        “With access to existing water and gas
our project. Together we’re contributing to
                                                        pipeline infrastructure and publicly-owned
WA’s economic growth and meeting our
                                                        ports giving crucial access to domestic and

Page 12            (Click on relevant project links to go to online Project Database)
international markets, Queensland is well               PROJECT NEWS
placed to supply renewable hydrogen to the
world, and Sumitomo recognises this.
                                                        Oxley Solar Farm
                                                        Solar Megawatt Holdings’ proposed Oxley
                                                        Solar Farm located approximately 14km
“Gladstone’s Hydrogen Ecosystem project will
                                                        south-east of Armidale in the New England
prove supply chains and grow a domestic
                                                        region of NSW, has been placed on public
hydrogen market, with the ultimate prize
                                                        exhibition by the NSW state government. The
being more Queensland exports from right
                                                        Oxley Solar Farm involves the construction,
here in Gladstone.”
                                                        operation and decommissioning of a ground-
                                                        mounted PV solar array. Approximately 225
Sumitomo Corporation’s Executive Officer
                                                        MW (AC) of renewable energy would be
Hajime Mori said Sumitomo Corporation is
                                                        generated and supplied directly to the
proud to be championing building the
                                                        national electricity grid. The development
Hydrogen Ecosystem in the Gladstone region
                                                        footprint would represent approximately
alongside such esteemed stakeholders.
                                                        895ha for the solar farm and associated
                                                        infrastructure. Two existing TransGrid 132kV
“With exceptional solar radiance and
                                                        transmission lines run parallel to each other
sophisticated     regional     partners      and
                                                        within the northern section of the proposal
infrastructure, Gladstone is a unique world
                                                        site and would be used to connect the solar
class location for renewable hydrogen
                                                        farm to the national electricity grid. Provision
production and regional utilisation with
                                                        made for an energy storage facility with a
significant export potential,” Mr Mori said.
                                                        capacity of up to 50MWh (i.e. 50MW power
                                                        output for one hour) consisting of
Minister for Regional Development and
                                                        approximately 25 containers (40 foot each).
Manufacturing and Member for Gladstone
Glenn Butcher said Central Queensland would
                                                        The indicative site layout assumes the
continue to play a key role in meeting global
                                                        maximum development impact and includes
hydrogen demand.
                                                        the following key infrastructure:
                                                        • Approximately 715,000 PV solar panels
“By 2030, Queensland will need a fully
                                                        mounted on either fixed or tracking systems,
integrated, export-scale hydrogen supply
                                                        both of which are considered feasible:
chain if we are to meet the demand from
                                                        o Fixed-tilted structures in a north
countries like Japan,” Mr Butcher said.
                                                        orientation; or
                                                        o East-west horizontal tracking systems.
“Fortunately, Gladstone has an outstanding
                                                        • Approximately 45 Power Conversion Units
record in the development of energy exports
                                                        (PCU) composed of two inverters, a
from a standing start, considering we grew
                                                        transformer      and     associated    control
our $70 billion LNG industry in just under a
                                                        equipment to convert DC energy generated by
decade.
                                                        the solar panels to 33kV AC energy.
                                                        • An onsite 132kV substation containing up to
“The development of a modern, world-leading
                                                        two transformers and associated switchgear
energy sector is critical to growing
                                                        to facilitate connection to the national
Queensland manufacturing and sustaining our
                                                        electricity grid via the existing 132kV
resources sector.”
                                                        transmission lines onsite.
                                                        • Associated infrastructure
The Gladstone Hydrogen Ecosystem design
study is targeted to commence next month.

Source: Queensland Government

Page 13            (Click on relevant project links to go to online Project Database)
Emissions pricing reaches                               investment into low carbon technologies,”
                                                        James Shaw said.
significant milestone
17 March                                                New Zealand’s Emissions Trading Scheme
A significant milestone in New Zealand’s                requires participants to surrender emission
transition to a low carbon future was reached           units to the government to cover the
today with the first auction of emissions               pollution for which they are liable. Among the
allowances, said the Minister for Climate               changes made to the scheme last year was
Change, James Shaw.                                     the introduction of a cap on the total
                                                        emissions allowed within the ETS.
“One of the most significant steps our
Government has taken to address the climate             “The question is not whether New Zealand
emergency was to reform New Zealand’s                   will transition to a low carbon economy, but
Emissions Trading Scheme. Having inherited a            whether businesses can respond quickly
scheme that was failing to cut emissions, we            enough. Auctioning helps to answer to that
turned the ETS one of the most effective tools          question by making clear that we can change,
New Zealand has for reducing climate-                   that we can do things differently and that we
polluting emissions.                                    can avoid the worst impacts of the climate
                                                        crisis and build a zero carbon world that
“Allocating a portion of each year’s                    meets the needs of every New Zealander,”
allowances via auction was key part of these            James Shaw said.
reforms. Auctioning is a simple, transparent
and credible process that will help to                  Source: NZ Government
incentivise New Zealand’s biggest polluters to
invest in the transition to a clean, climate-
friendly economy.” James Shaw said.

Completed this morning, 40 participants took
                                                        Boom secures work on wind
part in the auction. A total of 4.75 million New        farm
Zealand units were sold at a price of $36.00            18 March
per unit.                                               Boom Logistics Limited (ASX:BOL), today
                                                        announced that it has secured a new project
Auctioning is a way of allocating units under           with GE Renewables to provide lifting services
the ETS and was introduced as part of the               for the construction of the Bango wind farm in
changes the Government made to the scheme               the Southern Tablelands region of New South
last year. The process works by making a                Wales.
proportion of units (consistent with the cap
on the ETS) available for purchase through a            The project is expected to include the
single round of auctioning, during which                installation of up to 38 towers, commencing in
bidders submit a single bid at their preferred          March 2021. Boom will deploy a fleet of 12
price.                                                  cranes, including three 750 tonne capacity
                                                        cranes and a team of 40 crew and specialist
“One of the best ways to support long-term              technicians, including project management.
investments in climate-friendly technologies is         We are building on our success and
by ensuring the price of pollution in Aotearoa          experience in delivering similar services to GE
is consistent with meeting our obligations              on previous projects. When complete, the
under the Paris Agreement and New Zealand’s             Bango wind farm will generate approximately
own emission reduction targets.                         240 MW, energy sufficient to power 100,000
                                                        homes.*
“Auctioning will help to achieve that by
translating the targets we have put in place
into a price signal that drives much-needed

Page 14            (Click on relevant project links to go to online Project Database)
CEO       and   Managing      Director    Tony          “Some supply chain delays were experienced
Spassopoulos said “We are proud to work                 as a result of COVID-19, and at the site itself
with GE and continue to build on our service            we’ve had to implement new working
delivery model. We have an experienced team             protocols in order to keep our workforce and
mobilising to site, with the priority on safety         the local community safe.”
first, focused on customer service and project
delivery. We continue to expand our wind                “Despite these challenges, we were able to
farm projects business and demonstrate our              continue construction, albeit a little slower
capability as the leading Australian lifting            than planned, throughout 2020, with some
solutions provider in this market segment.              pretty incredible achievements marked by the
                                                        team along the way”, shared Tshaikiwsky.
“The renewable energy sector remains a
strategic focus for Boom. The forward pipeline          One of these achievements was the successful
opportunity is strong with more than 1,800              execution of the heaviest and highest crane
towers earmarked for installation in the                lift at a wind farm in the Southern
Australian market over the next 3 years.”               Hemisphere. The assembly team combined
                                                        the three heaviest components – the nacelle,
With over 3000 existing wind turbines                   hub and drive train – on the ground and
installed across Australia, Boom’s growth in            craned them into place in a single movement,
this sector is well supported by ongoing                weighing in at 210 tonnes. This ‘superlift’ has
maintenance activity in the operation of wind           now been completed at 15 of the 18 turbines
farms, providing both reactive and                      that have been installed so far.
preventative maintenance services. We have
solid bookings and this generates recurring             The current expected completion date for
revenue and our share of this maintenance               wind turbine installation is June 2021. COVID-
work is increasing.                                     19, a particularly wet winter in 2020, and
                                                        challenging wind conditions throughout early
Source: Boom Logistics                                  2021 have contributed to a delay in the
                                                        installation schedule.

                                                        “Our team are working hard to deliver this
                                                        important renewable energy project for
Mortlake South Wind Farm                                Victoria,” said ACCIONA Energy Australia
reaches halfway point of                                Managing Director Brett Wickham.
turbine installation
                                                        “Major projects like our Mortlake South Wind
18 March
                                                        Farm play an important role in not only
ACCIONA’s Mortlake South Wind Farm has
                                                        greening our State’s energy mix, but also
passed another important construction
                                                        bringing a substantial economic boost, local
milestone this week, with the installation of
                                                        jobs and industry development to regional
the 18th wind turbine generator on Tuesday
                                                        areas and the communities where they’re
16th March.
                                                        located” said Wickham.
Once complete, the 157.5 MW project will
                                                        The Mortlake South Wind Farm was
house 35 wind turbine generators, with the
                                                        successful in the 2018 Victorian Government
erection this week marking the halfway point
                                                        VRET Renewable Energy Auction Scheme,
for turbine installation.
                                                        supporting the achievement of the Victorian
                                                        Renewable Energy Target.
“We’ve faced some unique challenges during
the construction period so far,” said Mortlake
South Wind Farm Project Manager Andrew
Tshaikiwsky.

Page 15            (Click on relevant project links to go to online Project Database)
This came with significant commitments to               - for the entire Coles Group to be powered by
local content and local investment. All of the          100% renewable electricity by the end of
steel towers for the Mortlake South Wind                FY25; and
Farm were made using Australian steel, and              - to reduce combined Scope 1 and 2
manufactured at either Keppel Prince in                 greenhouse gas emissions by more than 75
Portland, VIC, or at Heywards Steel in                  per cent by the end of FY30 (from a FY20
Tasmania.                                               baseline).

Once commissioned, the 35 Nordex wind                   CEO Steven Cain said: “We have already
turbine generators at the Mortlake South                reduced Scope 1 and Scope 2 greenhouse gas
Wind Farm will produce enough renewable                 emissions by 36.5% since 2009 and have been
energy to power more than 117,000 homes.                a leader in securing renewable energy.

“We’re proud to be contributing to the                  Our new targets for Scope 1 and 2 emissions
development of Australia’s renewable energy             commit us to an accelerated reduction in
industry, and are thrilled that this project is         greenhouse gas emissions that exceed the
nearing completion,” concluded Wickham.                 climate change ambitions of the Paris
                                                        Agreement and will help sustain Australia for
Additional information about the Mortlake               generations to come by working together with
South Wind Farm can be found on the                     our customers, suppliers and members of the
Mortlake South Wind Farm project website -              community.”
https://www.acciona.com/projects/mortlake-
south-wind-farm/                                        Further information, including Coles Group’s
                                                        Climate Change Position Statement, can be
Source: ACCIONA                                         found                                     at
                                                        https://www.colesgroup.com.au/climatechan
                                                        ge

                                                        Source: Coles Group
Coles Group releases Climate
Change Position Statement
and sets emissions targets
under new ‘Together to Zero’
ambition
19 March
Coles Group (Coles, ASX: COL) has today
released its Climate Change Position
Statement and announced targets to reduce
greenhouse gas emissions, including the
following commitments:
- to deliver net zero greenhouse gas emissions
by 2050;

Page 16            (Click on relevant project links to go to online Project Database)
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