At present, Australia has a total power generation mix of 70GW, of which 35% are from coal, whilst 28% are from natural gas.
“Variable renewable energy resources are being added to the grid rapidly, according to the Australian Energy Market Operator, which oversees the country's electricity and natural gas markets,” the report read in part.
“It is expected that as soon as 2025 all the country's electricity will be supplied by renewable resources during certain intervals.” Australia also has pledged to achieve net-zero emissions by 2050.
Based on S&P Global Market Intelligence data, Australia’s largest power generator AGL Energy has an existing capacity of 8.9GW, mostly sourced from coal. It will be adding another 3.7GW.
Sun Cable Pte. Ltd., the second-largest generator, has 11.9GW of planned portfolio, including plans of creating a massive solar field in Australia’s Northern Territory.
Moreover, Fortescue Metals Group Ltd. had also announced plans to develop 5.4GW from wind, solar, and storage resources in Western Australia.