ASX Renewable Energy Stocks: Neon’s newest customer to help underpin SA’s largest renewable energy hub
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One of the world’s leading producers of renewable energy, Neoen has signed a power purchase agreement with Flow Power – an Australian electricity retailer – for 40MW of energy from its Goyder South stage-one wind farm in South Australia.
Goyder South stage-one marks the beginning of Neoen’s flagship project known as Goyder Renewables Zone – a hybrid wind, solar and storage project located near Burra in the state’s Mid North region.
With development approval in the bag for a total of 1200 MW of wind generation, 600 MW of solar generation and 900 MW of battery storage capacity, Goyder South is the state’s largest renewable project.
Construction of Stage 1, comprising 75 wind turbines with a total capacity of 412 MW, is currently underway with operations expected to begin in 2024.
Under the 10-year agreement, Flow Power will purchase close to 10% of the generation capacity of the Goyder South Stage 1 wind farm.
This PPA, the second offtake agreement secured for the project, complementing the existing 100 MW contract with the Australian Capital Territory (ACT) Government, will enable Flow Power to provide South Australian commercial and industrial electricity users with access to affordable local clean energy.
Frontier Energy is aiming to increase its landholding next door to its Bristol Springs Solar (BSS) in WA by a massive 651ha, or 334%.
The company has secured exclusive options to acquire land parcels which it says hold strategic value “regarding our long-term objective to produce more than 500Mw of solar energy to power our green hydrogen strategy”.
The BSS Project occupies an area of 195ha with forecast solar production of 114Mwdc – which stands for MegaWatts defined conditions or the power output given a specific set of circumstances.
FHE expects the project will provide enough power for 45,000 homes and abate 180,000t of CO2 emissions per year.
PVI has wrapped up works on a concept design study for its proposed Tiwi H2 Project on the Tiwi Islands in the Northern Territory, with targeted export volumes of 100,000t per annum of green hydrogen beginning in 2027.
The study establishes a clear pathway for Provaris to progress the project forward to Pre-FEED and FEED level technical, commercial, and economic studies as well as consideration of potential financing options.
Apart from confirming the Tiwi H2 Project is ‘technically feasible’ for an integrated compressed hydrogen production and export project, the study also reinforced capital cost estimates, which will be in the range of US$4.5bn to $5.2bn.
PV1’s Tiwi H2 project will utilise a fleet of Provaris’ proprietary H2Neo GH2 carriers for distribution into South-East Asian energy markets, with the engineering and final Class approvals on track for 2023.
The study also found around 100,000tpa of green hydrogen export could offset ~900,000 tonnes of CO2 per annum across power generation, mobility, and industrial applications.