Today's Aus Fin Review:
Winds of change blowing through energy transition
Wind and solar will lead Australia’s renewables charge as the nation prepares to change its energy mix, experts say.[snip]....“A lot of the larger industrial players are adopting cleaner energy policies because they’re operating in a global market and they’re pressured to adopt a clear direction on climate change and clean energy. For investors, this is a lot more efficient way to invest”, rather than wait for any policy certainty.
A case in point is Western Australian sulphate of potash producer Salt Lake Potash, which is building a world-leading, low-emissions fertiliser industry in Australia.
According to Salt Lake Potash chief executive officer Tony Swiericzuk, the Australian-first sulphite-of-potassium (SOP) fertiliser facility will be potentially be completely off-grid by the end of 2023 using solar, wind, gas and battery power. “There’s also the potential for hydro power as well,” Swiericzuk says.
The company’s processing plant located at Lake Way near Wiluna in Western Australia will be part powered by a 5MW solar farm and a 2MW battery and Swiericzuk says they’re committed to ensuring the whole site relies on renewable energy as quickly as possible. On the wind energy front, it has initiated a pre-feasibility study to build three 4MW wind turbines as well.
This commitment to renewables has seen the company receive funding as part of a syndicated debt facility with a number of investors, including the Clean Energy Finance Corporation and the Commonwealth Bank.
“We’re also investing in a microgrid to power Wiluna and by the end of 2023 we aim to have solar providing a lot of our energy needs and our wind turbines fully operational as well as a number of other green initiatives, including electric vehicles on-site,” Swiericzuk says.
The investment in wind by a company such as Salt Lake Potash is an example of how mainstream it has become in recent years, says the Executive Chairman of the Wilson Transformer Company, Robert Wilson.Wilson says around 30 to 40 per cent of the company’s business in Australia now involves providing transformers to wind projects..."
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