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Progress in the development of renewable energy generation continues to be influenced by the politics of emissions trading and carbon tax, and the desire for more renewable sources of viable power generation.
Whilst the vibrant debate around transitional arrangements for carbon intensive participants (including coal-powered generators) will continue, as carbon intensity is increasingly reflected in the price of energy (in particular energy generated by coal fired power stations), the price competitiveness of renewable energy will increase. Whilst Europe continues at pace to develop further renewable power generation, Australia, with its abundant supplies of thermal coal, understandably, is unlikely to match Europe in the near term.
Paradoxically, it may be that the very abundance of thermal coal will provide the impetus that Australia needs to move towards the levels of renewable energy generation seen in Europe as export price parity for thermal coal drives up the price of coal, and as such, electricity and carbon is priced through the carbon tax.
Corrs has long standing and significant expertise in coal, gas and renewable power station developments and operation. In addition to development and operational expertise, Corrs’ team advises on the commercial impact of Renewable Energy Certificates (RECS) and electricity trading, and the regulatory environment.
Corrs continues to act for Pacific Energy as the sponsor of the Perth Biomass Power Station Project. We have advised on all aspects of the project, including the procurement of fuel (forest plantation residue), fuel transportation, advice on the power purchase agreement, the EPC Contract, the equity arrangements and the project financing arrangements for the development of a 40/45 MW renewable energy power station.
Australia’s vast mining and resources sector has an unquenchable thirst for infrastructure. Billions of dollars needs to be invested in roads, railways and port facilities to support the sector’s export chain.
MoreThis In Brief addresses three recent cases of relevance to Energy & Resources Projects.
MoreAustralia is a country with vast mineral wealth; a stable political, legal and economic environment; a highly skilled and productive workforce; and a welcoming attitude to foreign investment - making it a favourite destination for foreign investors.
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Corrs continues to act for Pacific Energy as the sponsor of the Perth Biomass Power Station Project. We have advised on all aspects of the project, including the procurement of fuel (forest plantation residue), fuel transportation, advice on the power purchase agreement, the EPC Contract, the equity arrangements and the project financing arrangements for the development of a 40/45 MW renewable energy power station.
Australia is a country with vast mineral wealth; a stable political, legal and economic environment; a highly skilled and productive workforce; and a welcoming attitude to foreign investment - making it a favourite destination for foreign investors.
Australia’s vast mining and resources sector has an unquenchable thirst for infrastructure. Billions of dollars needs to be invested in roads, railways and port facilities to support the sector’s export chain.
This In Brief addresses three recent cases of relevance to Energy & Resources Projects.