Renewable energy investment in Australia
This forum was held on Wednesday, 12 May 2021
The Committee, in collaboration with MinterEllison, hosted a renewable energy forum, exploring the state of renewable energy investment in Australia. Held at MinterEllison’s spectacular new workplace at Collins Arch, our members gathered to share their thoughts on issues regarding energy mix, energy infrastructure and government policy.
MinterEllison Partner and Energy & Resources lead, Simon Scott, shared the findings from the MinterEllison and Acuris Australian Renewables Report 2021 and the overall positive outlook for investment in renewables in Australia. Fiona Lewis, Special Counsel at MinterEllison, also provided some specific insights into activities closer to home in Victoria. Key highlights from the report included:
- Domestic investors are the most confident, with 83% indicating they will increase their investments in the sector and compete for assets.
- Solar, wind and batteries hold huge potential and are seen as the lowest risk and key to providing reliable and consistent energy generation.
- Risk-reward sentiment is shifting in favour of hydrogen with Australia expected to become a primary supplier for energy markets within the next 12-24 months.
- Top challenges to investment include instability and lack of clarity around incentives, regulatory complexity and grid access.
These issues were discussed in greater detail in the panel session with Richard Bolt, Principal, Nous; Belinda Fan, Country Manager and Director, Australia, X-Elios; Joel Reid, Partner, MinterEllison; and Christian Schaefer, Executive Advisor, GHD.
The forum continued previous discussions initiated by the Committee on clean energy and energy security. Over the coming months, we will work to develop advocacy initiatives in these areas and look forward to welcoming you at future events, to explore the topic further.
For more information contact the Committee’s Director of Policy and Research, Leanne Edwards, at ledwards@melbourne.org.au