AUSTRALIA: A BOOMING KEY MARKETA strategic market for Total...

AUSTRALIA: A BOOMING KEY MARKET

A strategic market for Total Eren, Australia has one of the world’s highest solar irradiation rates and considerable wind capacity. Nevertheless, while solar power potential represents almost 10,000 times the country’s total energy consumption, renewable energy solutions still only make up a small share of the country’s total primary energy consumption.

In response, more and more regional and national policies in support of renewable energy have been introduced, not only to address the country’s environmental challenges and commitments but also to deal with ageing installed generating capacity. In particular, the “Renewable Energy Target” public policy aims to ensure that 20% of electricity is generated from renewable sources by 2020.

Aware of the Australian market’s huge potential in terms of renewable energy, Total Eren established a presence in the country in 2016 and now has a subsidiary based in Melbourne.

In August 2018, Total Eren launched the construction of its first project in Australia, Kiamal Solar Farm (256 MWp). In May 2019, funding for Kiamal was finalised thanks to support from Australian and European financial institutions (ANZ, ING and Natixis). CEFC (Clean Energy Finance Corporation) has acquired a minority stake in Kiamal’s capital. The Kiamal solar photovoltaic plant covers a surface area of 500 hectares on the outskirts of Ouyen, in the state of Victoria. It is expected to supply electricity to 133,500 households in the region and avoid the emission of 610,000 tonnes of CO₂ per year. It is Total Eren’s second biggest solar project anywhere in the world and it was the biggest solar farm in the state of Victoria in 2019.

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