AGL is committed to playing a leading role in developing a pathway to a modern, decarbonised generation sector, in part through investment in new renewable and near-zero emission technologies.
Australia’s Renewable Energy Target requires electricity retailers (such as AGL) to progressively increase the proportion of renewable energy being supplied to customers. It is anticipated that between now and 2020, investment in around 5,000 MW of new wind-equivalent renewable capacity will be required.
It is in this context that AGL launched an innovative new investment vehicle called the Powering Australian Renewables Fund during FY2016. The fund is aimed at facilitating the construction of approximately 1,000 MW of renewable generation. It is anticipated that this will involve investment of between $2 billion and $3 billion.
As of 30 June 2016, AGL operated 1,894 MW of renewable generation capacity, representing 18% of AGL’s total operating portfolio. AGL’s renewable energy portfolio represents 66% of the large scale solar capacity and 22% of the wind capacity in the National Electricity Market (NEM), and AGL remains Australia’s largest non-government owner, operator and developer of renewable energy generation.
For more information visit AGL’s 2016 Sustainability Report.
Leave a Reply