Rystad Energy - Energy Knowledge House
Rystad Energy - Energy Knowledge House

press release

Financial close in H1 2019 is critical for 2020 performance

Share by Email Share on Facebook Share on LinkedIn Share on Twitter

Presented below is Rystad Energy’s forecast for the utility scale PV, wind and storage to be constructed and commissioned for Australia to 2020. 2019 is set to be the biggest year for constructed and commissioned utility PV (2200 MW), wind (2400 MW) and storage (100 MW) in Australia. This follows a record year in 2018, which was the first year in which over 1 GW of utility PV, wind & storage was constructed and commissioned.

The news was not all good in 2018, several utility PV and wind projects were delayed as commissioning took longer than expected, the fallout from Australia’s largest solar EPC to date (RCR) going into administration, new (more onerous) technical standards for generators in order to connect to the grid and political uncertainty with State (NSW) and Federal elections both occurring by the end of May.

This perfect storm will dampen projects passing from DA Approved to Financial Close in 2019. This is critical to the amount constructed & commissioned in 2020, this is presented below as 2.4 GW of projects at DA Approved in 2020. If these projects do not achieve Financial close in 1H 2019 these projects will not come online in 2020.

A bar chart showing the delayed 2018 projects bump up 2019 numbers in Australia capacity build, forecast to 2019

Learn more about  RenewableCube .



Gero Farruggio
Head of Australia and Global Head of Renewables
Phone: +61 40 867 39 51

About Rystad Energy

Rystad Energy is an independent energy research and business intelligence company providing data, tools, analytics and consultancy services to the global energy industry. 

Our products and services cover energy fundamentals and the global and regional upstream, oilfield services and renewable energy industries, tailored to analysts, managers and executives alike.