A coalition of large renewable energy investors warns billions of dollars in private investment in clean power is at risk unless fossil fuels are excluded from proposed power market reforms | NickToscano1 & Mike Foley
as soon as Friday, with the Australian Energy Regulator writing to power companies on Thursday evening telling them to act in good faith and not to withhold any available electricity supply from the market.
The board is calling for a “technology neutral” policy that could be applied to grid-scale batteries, pumped hydro, gas and coal as well as renewables. Corbell said a capacity mechanism was needed to solve the “long-term problem” of attracting massive investments in dispatchable capacity projects, such as pumped hydro and batteries, which must grow from a total capacity of around 20 gigawatts today to 60 gigawatts by 2050.
Bowen will on Friday announce $45 million in funding for the Australian Centre for Advanced Photovoltaics , which he said was a “world leader in solar research and innovation”.
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