Investments in South Australia's Energy

Investments in South Australia's Energy

Whether your interest in green energy is derived from a passion for the environment or an appetite for money, there is no denying that the uptake of renewable energy technologies is not looking like ceasing anytime soon. Not even the news of Donald Trump pulling his country out of the Paris Agreement is enough to shake the tree of global demand for clean energy solutions, and - as in most cases, where there is a high demand for - well, anything really, you are sure to find China leading the charge. Anyone who operates in the renewable energy sector will confirm this, particularly when it comes to Photovoltaics – on the world stage, there is just nothing that compares to the combined might of the People’s Republic.

To put this into perspective, consider this; as of March 2018, the total installation of Photovoltaic (PV) Solar Power in Australia climbed to just over 7,800MW, of which 1,650MW was installed over the preceding 12 months; while China, over the same 12 month period, installed just over 48GW.

In one year China installed over six times Australia’s entire PV capacity, placing the powerhouse squarely in the front seat of PV solar generation globally.

It is interesting to note however, that even in the wake of this enormous uptake of China’s solar energy harvesting infrastructure – inclusive of the world’s largest operational solar project in its 1,547MW installation at Tengger, the contribution to the countries total electric energy production remains modest. Of the 6,412 Terawatt Hours of electricity produced in 2017, 118 Terawatt Hours was generated by solar power, making up less than 2% of China’s total energy production.

There are various reasons for this - not least of which include the countries high-level of pollution directly affecting the amount of solar energy able to be harvested, so it makes economical sense that Chinese companies then start looking for the most efficient ways to harvest energy from the sun, and it’s no wonder that their attention soon turns to Australia.

"The intention is to introduce these overseas investment opportunities into local communities to create local jobs and establish new markets in regional areas."

With our vast wealth of land - coupled with one of the highest luminance ratings on the planet, there are very few locations that can match Australia’s suitability for solar energy resources, a fact which has not eluded businesses looking for investment opportunities. As PV technologies become more prevalent, so too does the overseas interest in developing Australia into a renewable energy powerhouse. Just last year, Elon Musk, one of the world’s most successful business personalities and CEO of Tesla, essentially made a wager with the South Australian government to build a 100MW battery, promising to do it in 100 days or it’s free.

Yates Electrical Services – who have spent the past several years studying the South Australian energy market while developing their own brand of large-scale solar energy farming practices - are uniquely positioned to facilitate the development of renewable energy projects integrated into the South Australian energy market using investment from overseas businesses.

Yang Yi of Jolywood, John Huang of Green Gold Energy, Lu Chuan of Chint Energy and Mark Yates of Yates Electrical Services visit Green Gold Energy's 1MW Solar Farm in Sunlands.

Businesses such as Chint Energy. Part of the Chint Group - China’s leading industrial manufacturer, Chint Energy is focused on the solar photovoltaic sector, operating under the umbrella of Astronergy – a tier 1 panel manufacturer with 1.5GW of annual production capacity, and manufacturing plants located in China and Germany. Boasting total assets of over $5Billion USD and employing over 29,000 people globally, Chint bring to the table the knowledge of global markets and a solid supply chain for efficient development of projects in our region.

Chint Energy, in conjunction with Green Gold Energy as engineering, procurement and construction (EPC) for these projects, will soon begin a collaboration to develop numerous solar energy installations across regional areas in South Australia, “We envisage rapid rollout of large-scale solar farms capable of injecting generated energy into the South Australian energy grid. The intention is to introduce these overseas investment opportunities into local communities to create local jobs and establish new markets in regional areas.” Said Mark Yates, the Australian Director of Green Gold Energy and Director of Yates Electrical Services.

”Overseas investment provides stimulation into regional areas above what is sustainable at current levels, the introduction of these funds into these projects will ultimately result in growth for the region, which is where we believe the community will really see the benefits.”

Foreign Direct Investment (FDI) remains a critical component to Australia’s economy – assisting in supplementing Australia’s national savings, supporting local businesses through the development of these projects. Utilising local professional services, construction and infrastructure development and creating employment, which is of particular import in regional areas such as the Riverland. Investment from overseas is woven into daily life, from roads or public transport, to technology used in phones or computers, or one of many international services or manufacturing companies employing hundreds of thousands of Australians.

Yates Electrical Services, along with Adelaide based Green Gold Energy look forward to working with Chint in developing some of the most exciting projects in Australia.