The $7 billion renewable energy fund is scouring Australia for investments since political stability on climate policy has emerged.
A London-based $7 billion renewable energy fund is scouring Australia to unleash its war chest, shrugging off fears that snarled supply chains and expensive key raw materials will scupper fresh renewable projects.
Mr Bergsma flew into Sydney with Biff Ourso, global head of Nuveen infrastructure, to assess the east coast market. Offshore wind and storage is also on the radar. He said the investment case for solar stacked up despite the costs for key commodities and renewables components rising sharply amid a, the essential metal for making more than 90 per cent of the world’s solar panels, started its price run in 2021 before hitting its highest price in nearly a decade at $US38 a kilogram.
Although last quarter’s prices were less than half the level of $216/MWh in the September quarter, December prices were stubbornly above the $52/MWh average compared to the same time in 2021. “The power grid is where we think the government should really step up to allow for much faster and deeper penetration of power generation,” Mr Bergsma said.
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