Australian electricity generation attracting significant investment
Posted: 19 November 2008
Today marks the first release of the ABARE report: Electricity generation: major development projects – October 2008 listing which will now be compiled every six months.
Information contained in the list includes electricity projects generated by coal, oil, natural gas, coal seam methane and renewable energy sources (solar, wind, hydro, biomass and wave).
This report complements ABARE’s biannual list of major minerals and energy projects.
The electricity generation projects list contains details of 121 projects, of which 29 are at an advanced stage, which is defined as being under construction or committed.
The advanced projects have a combined generating capacity of 6285 megawatts. This new capacity is equivalent to 12 per cent of Australia’s total generating capacity as at June 2007.
The advanced electricity generation projects are a positive for investment in the sector (the committed projects have an estimated capital expenditure of $8.3 billion) and will contribute to meeting increasing domestic demand according to ABARE Acting Executive Director, Karen Schneider.
These projects are widespread, with at least one advanced project in every state and in the Northern Territory.
Non-renewable electricity generation projects account for around 86 per cent of the total planned additions to capacity.
Investment interest is strong in natural gas and coal seam methane-fired generation, accounting for 90 per cent of the announced capacity of advanced non-renewable electricity generation projects.
"The significant number of natural gas and coal seam methane-fired projects with large capacities at advanced and less advanced stages suggests that these energy sources will account for an increasing proportion of future power generation in Australia," Ms Schneider said.
Wind powered energy accounts for more than three-quarters of the committed additions to renewable energy capacity. These projects have an average capacity of 100 megawatts and are expected to provide peak load power primarily in Victoria, New South Wales and South Australia.
Posted by Richard Price, Editor, EnergyME.com
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