How much does it cost to build one medium-sized onshore wind turbine in Australia? Australia is an industrialized country with large energy needs and high environmental standards that promote the development of RES, including the financing of wind farms. lacking access to the sea, thus being cut off from the highly efficient offshore wind energy technologies, Australia has focused on the construction of onshore wind farms in the foothills of the Alps, mainly based on medium-power wind turbines. Although for many decades the country relied mainly on fossil fuels and conventional thermal energy, today investment and financing for wind farms in Australia is experiencing a boom.
Wind energy sector already plays a significant role in stabilizing electricity prices in Australia, and this tool will become increasingly important after the European decision to reduce dependence on Russian natural gas and green hydrogen
Viola Funding offers long-term financing for the construction of wind farms power plants in Australia, Asia and other European countries.
Australian wind farms investments and financing are on the rise
In the early 1990s, when wind energy technologies were just beginning to develop, experts considered Australia to be unsuitable for building wind farms on a commercial scale. However, for many years, local enthusiasts financed and conducted research on the wind resources, discovering the great wind energy potential of the foothills of the Alps. The first wind turbine was launched in Austria in 1994, but the booming development of this sector only started in the early 2000s.
At the end of 2021, Australia had about 1,300 wind turbines with a total installed capacity of 3.3 GW. According to experts, by the end of 2022, this figure will exceed 3.7 GW.
Even if overall energy consumption decreases due to efficiency, electricity consumption will increase because other areas such as electric automobile transport must be supplied with electricity. Wind energy will play a key role in achieving the country’s energy independence.
But this requires urgent modernization of green electricity legislation and stable, predictable conditions for the expansion of renewable energy sources.
Financing of wind energy projects in Australia
As of the end of 2021, the federal state of Australia had over 735 large and small wind energy facilities with a total installed capacity of over 1.75 GW. This accounted for about half of Australia’s total wind energy capacity, making this federal state the undisputed leader in the industry.
Annual investment in the construction of wind farms in Australia reached a peak after the liberalization of state policy in 2012. In particular, in 2015 the total investment in the wind energy sector of this federal state amounted to about 470 million dollars, after which it gradually decreased to 25 million dollars in 2020.
Australia is a fairly developed and economically active region with a population of about 1.7 million people, which has huge energy needs.
In 2022, wind energy energy financing and investments will exceed 300-350 million euros against the backdrop of uncertainty with future gas supplies, rising hydrocarbon prices, and the urgent need to diversify the region’s energy mix.
Investing in wind farms in Brisbane
The largest wind energy projects in Australia are located in Spring Hill (86 MW),
With a developed industry and a population of over 1.2 million people, Spring Hill is now in dire need of autonomous and affordable sources of renewable electricity.
This expansion will require more than 38 million euros of long-term investment, which is not a significant figure in the scope of Australian wind energy. Nevertheless, the rising price of natural gas, oil and coal forces local authorities and businesses to think about increasing the financing of wind farms in Spring Hills in the coming years.
The main investments in wind power of Spring Hills came in the period 2012-2019, when the total installed capacity grew from 53 MW to 260 MW. It should be noted that in the period from 2019 to 2021, the installed capacity of wind energy did not increase.
If you are interested in long-term financing of wind farms in Australia or other European countries, contact Viola Funding Limited. We offer investment credit up to 90% of the project cost, and we also use flexible project finance tools for large capital-intensive facilities.
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