Antinuclear

Squadron Energy says innovation needed to overcome jump in wind costs, but nuclear not the answer

ReNewEconomy, Sophie Vorrath, Jul 10, 2024

The CEO of the Andrew Forrest owned renewables developer Squadron Energy says the cost of developing onshore wind energy projects has jumped by up to 50 per cent over the past four years, presenting industry with a “very big challenge” as it works to deliver tens of gigawatts of new capacity in Australia.

Speaking at Australia Wind Energy 2024 in Melbourne on Wednesday, Squadron chief Rob Wheals said industry would need to act swiftly to overcome the jump in wind costs that, alongside other roadblocks, are getting in the way of scaling up development.

Wheals says about two-thirds of the cost of delivering an onshore wind project are made up of construction and installation costs and that, since 2020, developers have seen those costs increase by as much as 50 per cent

………………………………………………………………………………………………………  Esposito, Wheals and various other global wind energy executives including from RES, Goldwind and RWE, also noted that the grid connection situation, at least, is improving, with network companies, market bodies and governments joining forces to boost visibility and speed up critical project connection processes.

Cost problems – and the impacts of Australia’s predictably unpredictable energy politics – still need some nutting out.

“My message to us as an industry is that we … need to do the heavy lifting. We need to do that heavy lifting now,” Wheals told the conference.

“We’re looking at a four- to five-fold increase from today through to 2050. …We can’t afford to be distracted by the nuclear debate and, in fact, nuclear won’t be there in time for us anyway…………. https://reneweconomy.com.au/squadron-says-innovation-needed-to-overcome-jump-in-wind-costs-but-nuclear-not-the-answer/—

July 12, 2024 - Posted by Christina Macpherson | energy