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

press release

Upstream Majors to lead the charge in Australian Renewables

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The Australian renewable energy pipeline is surging above 100GW of solar, wind and utility storage projects. Investment is currently matching upstream capex, at US$10 bn per annum. Only 1GW is currently owned by Upstream companies – the majors. By the end of the decade, upstream companies will be the dominant renewable developers in country and regionally. The driver will be economics as much as an increasing desire to ride the solar-coaster.

Upstream Majors to lead the charge in Australian Renewables

Woodside and Santos are absent from the chart (for now) but both are making strides in the sector. Woodside is focusing on battery storage replacing spinning reserves and more recently in hydrogen (or solar exports as dubbed in Australia!). Santos is pioneering on two fronts – replacing oil driven generators on beam pumps and behind-the-meter large scale PV through a joint venture with ZEN Energy, sanctioning a 2MW behind-the-meter solar PV development at their Port Bonython facility (SA). The facility is grid-connected and uses electricity within its operations – the solar farm reduces both exposure to electricity prices and Scope 2 (indirect energy) emissions.

For more in-depth information please have a look at our Renewable Energy Solution.



Gero Farruggio
Head of Australia and Global Head of Renewables
Phone: +61 280 678 490

Jerome Fuzeau
Product Marketing Manager
Phone: +47 24 00 42 00


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. Rystad Energy’s headquarters are located in Oslo, Norway with offices in London, New York, Houston, Stavanger, Moscow, Rio de Janeiro, Singapore, Bangalore, Tokyo, Sydney and Dubai.