ARENA: Announce Funding of Large Scale Solar Projects
Source: Reneweconomy, 7 September 2016
20 large-scale solar projects shortlisted for the Australian Renewable Energy Agency’s $100 million funding round are expected to be announced as winners of federal government grants.
The announcements are expected to trigger the biggest single investment surge in any renewable energy technology in Australia to date, even outpacing investment in rooftop solar at the height of the premium feed-in tariffs.
Apart from the projects set to go ahead directly from the ARENA tender, the results are also expected to trigger financing commitments for other large-scale solar projects, many of which are keen to cash in on high prices for renewable energy certificates, surging interest in financing from local and international funders, as well as another big slump in the cost of solar modules on international markets.
The tender result is also expected to show that the levellised cost of energy for large-scale solar has fallen to around $100/MWh for the best projects, well below the $135/MWh targeted by ARENA when it started the process.
In a report on Wednesday, Deutsche Bank said that module prices are expected to decline from current levels at the mid US40c-mid 50c/watt to the low US40c/W range in most markets globally.
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