“Thanks to our state-of-the-art production facilities, we have the ability to support and consolidate significant amounts of intermittent wind and solar energy. After the timely development of Goonumbla, supported by Snowy Hydro by an acquisition contract signed in 2018, we are convinced that Sebastopol has achieved the same success. The additional electricity is used for Snowy Hydro`s pumping generators, which are currently powered by grid electricity, including electricity generated from coal or gas, to pump water. After Snowy had to buy energy from Hydro to cover this spot market shortage, Snowy Hydro is targeting new clean energy projects to power half a million homes without being affected by high national energy market (NEM) prices. Electricity supply is also consolidated by Snowy Hydro`s hydropower, gas and diesel generation. The distribution company aims to offer a base charge of less than 70 AU/MWh for a maximum of 15 years. The eight solar projects and victorious winds are expected to go online over the next two years. Australian energy supplier Snowy Hydro has ordered eight wind and solar projects with a total capacity of 888 MW in New South Wales and Victoria to reduce its load through high wholesale electricity prices, as it is currently unable to supply all its customers with electricity through its own electricity generation. The new contract capacity will allow the company to sell electricity at wholesale prices of less than AUD 70 (50.7 USD/EUR 44.3) per MWh from the beginning of 2020. This price includes the cost of renewable raw materials, plus the cost of consolidation. Global Power Generation (GPG) Global Power Generation (GPG) is Naturgy Energy Group`s international power generation subsidiary and 25% owned by the Kuwait Investment Authority (KIA), the world`s oldest sovereign wealth fund.
KIA`s interest in GPG is managed by the wren House Infrastructure Management direct infrastructure platform. GPG manages a total installed capacity of 4,100 MW and employs approximately 800 people worldwide. Snowy Hydro has approximately 620 megawatts of gas and 136 megawatts of diesel power, in addition to the 4.1 gigawatts of hydropower spread over nine facilities and representing most of the company`s production facilities. If this continues, Snowy 2.0 2024 will enter service in 2024 and last 70 years, with enough capacity to provide 2 gigawatts of power up to 175 hours. A final investment decision on the project is expected before the end of the year. Apart from that, Snowy Hydro plans to increase its pumping water capacity through a project called Snowy 2.0. It operates the 4.1GW Snowy Mountains hydro project and is the fourth largest energy distributor in the NEM. The eight winning projects, including four wind farms and four photovoltaic parks, are expected to be commissioned over the next two years and consume 2.8 TWh of electricity per year, or up to 500,000 homes. The capacity will be located in the states of New South Wales and Victoria. Tags: Australia, Snow Hydro, Lightsource bp, victoria, nsw Dutch Spanish developer Fotowatio Renewable Ventures has already confirmed that it is on the list. This week, Fotowatio announced a power purchase contract (PPA) with Snowy Hydro for the 67.8 megawatt power of its Goonumbla solar farm. One of the companies that wins a 15-year power purchase contract (PPA) is Lightsource BP, which has secured 105 MWp, said the solar developer-scale supply in a separate statement.