CEFC chief executive Ian Learmonth says the green bank is ready to fund developers as the supply chain crisis and rising investment costs threaten to slow energy boom momentum renewable.
“Importantly, CEFC confirms its commitment to leading developers such as ACEN Australia that provide cleaner power generation.
“As developers face new challenges related to supply chain constraints and rising costs, CEFC continues to support them to ensure that the momentum created in these early years is maintained and strengthened.”
Big spenders
ACEN’s investment comes as development costs rise due to the international supply crisis and rising investment costs, and domestic competition for labor and skills. skills intensifies.
Queensland is spending $60 billion over 10 years on transport and renewables, NSW is spending $32 billion over eight years on its energy infrastructure roadmap and Victoria is spending $18.7 billion over 10 years on wind farms.
Serious bottlenecks are already emerging in the renewable energy supply chain, as reported The Australian Financial Review Worksite, which revealed that a developer ordering a full-scale battery today would be lucky to get delivery in 2025 or 2026.
ACEN Australia has over 1.5GW of projects under construction or in advanced stages of development, including the New England Solar Farm, New England Battery, Stubbo Solar and Valley of the Winds projects in New England South Wales and Mid-West Orana Renewable Energy Zone, as well as the Robbins Island and Jim’s Plain Wind projects in the North-
Western Tasmania.
