In the current debate around the energy transition – one thing is certain: the electricity sector is responsible for more than 30 per cent of Australia’s emissions.
Written by Squadron Energy |
The importance of decarbonising this sector is only going to increase with the further electrification of industry, transport and households.
The fastest way to do this is through firmed renewable generation.
This also moves us away from ageing unreliable coal-fired generation as quickly as possible – which currently accounts for more than 60% of our grid’s generation and is the key driver of sky-high electricity prices.
Decarbonising the grid and bringing power bill relief at speed can only be met by firmed renewables. We are delivering this through our pipeline of wind, solar and storage projects, which will enable us to provide 90 – 95% renewable electricity.
Critically, our firming projects like Port Kembla Energy Terminal and Dubbo Firming Power Station will supply the remaining ~ 5%.
Building out renewable energy at pace is key as we work to deliver around 30 per cent of Australia’s renewable energy target of 82% by 2030.
While firming projects are important, they will only make up just a small amount of generation, helping to smooth out the troughs when the sun isn’t shining or the wind isn’t blowing.
Our Port Kembla Energy Terminal will support domestic gas supply as we transition to renewable energy and prevent the need for further gas fields in Australia.
During construction, the project has created more than 200 local jobs and injected $27 million into the regional economy.
The import terminal will supply our own firming generation assets, such as our planned 64MW Dubbo Firming Power Station, providing a backbone for our 20GW renewable energy pipeline.
It is this energy pipeline that is paramount in getting Australia to net zero as it is critical to our efforts to decarbonise electricity and bring down power prices. Firmed renewable energy is the solution to delivering Australia’s transition to renewable energy at speed.
