May 17, 2020

Biggest Renewable Energy Investment Ever in Australia

Australia
Australian
Tax
taxpayer
Admin
2 min
Australian taxpayers will direct $10 billion into renewable and clean energy over five years
Australian taxpayers will front the bill for what will be the biggest single investment in renewable energy ever. During negotiations of a new carbon...

 

Australian taxpayers will front the bill for what will be the biggest single investment in renewable energy ever.  During negotiations of a new carbon price and diversion away from renewable energy subsidies, interests groups led by the country’s Greens and rural independents ensured that a significant potion of the investment be made into clean energy projects.  The total $10 billion renewable energy investment will be carried out over a five-year period slated to begin 2013-2014.

The Australian government is forming a new Clean Energy Investment Corporation that will manage the public funds for renewable energy projects that otherwise could not acquire loans through traditional channels like banks.  The corporation will be independently run by a board of directors. 

Clean Energy Investment Corporation will make loans or take equity shares in projects with returns on investment being reinvested.  The revenues will be split into two streams to appease both the Greens and Labor parties.  The first will fund only renewable energy projects such as wind, solar and geothermal, while the second will make money available for hybrid vehicle purchase.

 

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The company will also invest in manufacturing businesses that provide parts for renewable energy projects, such as wind turbine and solar cell manufacturers.  However, no funds will be granted for carbon sequestration or clean coal initiatives. 

The clean energy corporation will be joined by a new independent agency to direct and manage $3.2 billion in existing government grants for renewables and biofuels, including the large-scale solar flagships program. Known as ARENA, the agency will also get future funds through dividends paid by the clean energy corporation and a potential share of revenue from the carbon price via any reduction in compensation for trade-exposed industries after 2014-15.

The Australian government believes that upward of $20 billion will be spent on renewable energy projects in Australia in the next decade, and $100 billion by 2050. 

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Apr 20, 2021

Amazon's renewable energy projects surpass 200 milestone

Amazon
Renewables
Solar
Netzero
Dominic Ellis
2 min
Nine new projects announced today takes Amazon's renewables portfolio beyond 200 projects

Amazon claims it is now Europe's largest corporate buyer of renewable energy as its projects surpassed 200 globally.

Broken down, it has 136 solar rooftops on facilities and stores and 71 utility-scale wind and solar projects, nine of which were announced today covering the US, Canada, Spain, Sweden and UK. They include:

First solar project paired with energy storage Based in California’s Imperial Valley, Amazon’s first solar project paired with energy storage allows the company to align solar generation with the greatest demand. The project generates 100MW of solar energy, and includes 70MW storage.

First renewable project in Canada An 80 MW solar project in the County of Newell in Alberta. Once complete, it will produce over 195,000MWh of renewable energy to the grid.

Largest corporate renewable energy project in the UK Amazon’s newest project in the UK is a 350MW wind farm off the coast of Scotland and is Amazon’s largest in the country. It is also the largest corporate renewable energy deal announced by any company in the UK to date.

New projects in the US Amazon’s first renewable energy project in Oklahoma is a 118 MW wind project located in Murray County. Amazon is also building new solar projects in Ohio’s Allen, Auglaize, and Licking counties. Together, these Ohio projects will account for more than 400MW of new energy procurement in the state.

Additional investments in Spain and Sweden In Spain, Amazon’s newest solar projects are located in Extremadura and Andalucia, and together add more than 170 MW to the grid. Amazon’s newest project in Sweden is a 258 MW onshore wind project located in Northern Sweden.

It now has more than 2.5 GW of renewable energy capacity, enough to power more than two million European homes a year, and aims to power all its activities with renewables by 2025 and net zero by 2040.

Amazon and Global Optimism co-founded The Climate Pledge in 2019, a commit ment to reach the Paris Agreement 10 years early and be net-zero carbon by 2040. The pledge now has 53 signatories, including IBM, Unilever, Verizon, Siemens, Microsoft, and Best Buy.

A map of all of Amazon’s renewable energy projects around the world can be found here.

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