Competitive Expressions of Interest
ARENA have released a summary of the data sourced from their competitive expressions of interest (EOI) round.
In the EOI round, solar and renewable energy companies were invited to submit a proposal in a bid to secure a portion of the $1000 million in funding that has been set aside for large-scale solar projects. ARENA received proposals for 75 large-scale projects in the EOI round.
ARENA assessed the EOI applications last year and have since listed 22 high merit projects that are invited to proceed to the full application stage. The projects are located in all mainland states and have a total capacity of 766 megawatts (MW). Ten of the projects that have been invited to proceed to the full application stage are located in Queensland.
Large-scale Solar Projects for Queensland
If the Queensland projects are successful in securing funding from ARENA, it is likely that we will see large-scale solar projects in Baralaba, Longreach, Hughenden, Dalby, Collinsville, Oakey, Proserpine and Ipswich.
Full applications must be submitted to ARENA by 15 June 2016.
Industry Context provided by ARENA:
Large-scale solar PV remains in its infancy in Australia with only three projects commissioned and a further three under construction. When the projects currently under construction are complete, installed capacity of large-scale PV will total 262 MW. This is well behind the installed capacity of comparable international markets.
ARENA has observed significant cost reduction in large-scale solar PV over the past few years and expects this to continue due to a combination of international and local improvements.
If you have been approached by a solar or renewable energy company or have questions about the potential opportunities, including the use of your property for clean energy or renewable projects, our Energy, Environment & Agribusiness team can help.