Bright Acre Energy – Solar IPO, 2019 Plans

European solar project developer Wirsol Energy have an Australian arm known as Bright Acre Energy. The company has been working on a $500m IPO of their Aussie solar portfolio, but news is thin on the ground lately. Let’s take a look at what to expect from BAE in 2019.

Bright Acre Energy $500m Australian Solar IPO

Bright Acre Energy Gannawarra Solar Farm
Bright Acre Energy Gannawarra Solar Farm (source: brightacreenergy.com.au)

Bright Acre Energy have ten projects in various stages of completion, situated in Victoria, New South Wales and Queensland. According to the Australian Financial Review, the projects are set to fully connect to the national power grid by the end of 2019. These five projects will total over 1100MW, which is enough electricity to power 350,000+ houses. The official site names the farms as currently having 397MWp of nameplate capacity, with half of this commercially operational and the other half ‘almost there’. 

Former Australian rugby union player Bill Calcraft was the CEO last year, and along with Gerard Dover the site has them listed as ‘Proposed Management’ – so not sure what this means for 2019 – and there hasn’t been any specific news on their potential IPO. We’ve reached out to the team and will keep you updated if we find out anything about Bright Acre’s plans for the rest of the year. 

Bright Acre Energy are currently responsible for the following projects, as per their website:

  • Hamilton Solar Farm (Collinsville, QLD) (Operational) (69MWp)
  • Whitsunday Solar Farm (Collinsville, QLD) (Operational) (69MWp)
  • Clermont Solar Farm (Clermont, QLD) (Near-term Operational) (89MWp)
  • Springdale Solar Farm (Springdale, NSW) (Pipeline) (120MWp)
  • Bomen Solar Farm (Bomen, NSW) (Pipeline) (120MWp)
  • Hay Solar Farm (Hay, NSW) (Pipeline) (140 MWp)
  • Buronga Energy Station (Buronga, NSW) (Pipeline) (400MWp)
  • Wemen Solar Farm aka Wemen Sun Farm (Wemen, NSW) (Near-term Operational) (110MWp)
  • Gannawarra Energy Storage System (Kerang, VIC) (25MW/50MWh)
  • Gannawarra Solar Farm (Kerang, VIC) (60MWp)

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Recycling Solar Panels | What to do with old solar panels.

Recycling solar panels is a topic which will be a lot more prevalent as the initial ‘wave’ panels begin to reach their end of life. Let’s take a look at what the plans are for trying to minimise the environmental impact and maximise the value  of a used solar panel.

Recycling Solar Panels | Will there be a waste crisis for old panels?

Australia has one of the highest PV solar uptakes in the world. There are plenty of us who have had solar installed for a long time. So long, in fact, that people are talking about end of life strategies to dispose of/ repurpose solar panels, so that they don’t cause a problem for the environment. 

Total Environment Centre director Jeff Angel has been crusading for the implementation of such strategies for solar panels, calling it a ‘systemic problem’:

“We’ve had a solar panel industry for years which is an important environmental initiative, and it should have been incumbent on government to act in concert with the growth of the industry so we have an environmentally responsible end-of-life strategy,” he said in a quote to the Sydney Morning Herald.

We’ve written previously about solar panel recycling and, although it’s good to see things like the ELSi project in Germany, there’s still a ways to go before we figure out the best way forward to recycle solar waste.

Reclaim PV: Recycling Solar Panels
Reclaim PV: Recycling Solar Panels (source: reclaimpv.com)

According to the director of Reclaim PV (the only dedicated photovoltaic recycler in Australia), Clive Fleming, they company recycles 90 per cent of materials in a panel. The company has been lobbying for state bans on landfill disposal of solar panels. 

Australian Council of Recycling chief executive Peter Schmigel also had a quote in the SMH about how a proper plan for recycling PV cells could have a positive effect on the economy:

“Recovery rates have been out of sight since the beginning of the scheme, nobody has said anything at all about there being an inbuilt recycling cost. It generates jobs, it generates environmental outcomes and yet for some reason we have policymakers who are hesitant about [establishing similar schemes] for solar PVs and batteries,” he said.

We expect over the coming year or two we’ll hear a lot more about this, with Sustainability Victoria working on a ‘national approach to photovoltaic product stewardship’, with their recommendations presented to the environment ministers around the middle of this year. 

Victoria have already announced they’ll ban electronic waste in landfill from July 2019, so it’ll be interesting to see if/how the other states follow suit.
 

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Finley Solar Farm | Canadian Solar KuMax Modules

Canadian Solar have announced that the Finley Solar Farm will be using their KuMax modules and EPC services for the $170m project in New South Wales.

Finley Solar Farm | Canadian Solar KuMax Modules

Finley Solar Farm
Finley Solar Farm (source: FinleySolarFarm.com.au)

The Finley Solar Farm will use almost half a million Canadian Solar CS3U-P Kumax Panels with single axis tracking, according to SolarQuotes. The modules are ‘split cell/half cut’ with 144 cells per module. Canadian Solar don’t have a huge presence in Australia yet, and it looks like they are going to focus on commercial solar installations for the time being. The farm will cost around $170m and will be built 6km west of Finley (which is located around 140km west of Albury, which is a city in southern New South Wales with a population of around 51,000).  According to their website, the 175MW farm will be developed by ESCO Pacific, one of Australia’s leading renewable energy developers, with construction being managed by Signal Energy Australia.

Canadian Solar Chairman and Chief Executive Officer Dr. Shawn Qu discussed their input in the project:

“We are delighted to be selected by ESCO Pacific to provide EPC (Engineering, procurement and construction) services together with Signal Energy and to supply our 1500V crystalline module to this large-scale solar power plant,” said Dr. Qu in a statement on the official Canadian Solar website. 

The farm has started construction (which started in December 2018) and the Finley Solar Farm is expected to be completed in Q3 this year, so not long at all! The energy has already mostly been spoken for, with a 7 year PPA signed last July by ESCO Pacific and Bluescope for the Finley Solar Farm to sell 66% of its output to Bluescope – with the PPA (Power Purchasing Agreement) the biggest corporate PPA of its kind in Australia at the time. 

John Nowlan, the head of Australian steel at BlueScope, said the contract will be a step in the right direction while they continue to support the National Energy Guarantee and rely less and less on non-renewable energy:

“(The contract) will help keep downward pressure on our energy costs, and will support the gradual transition to renewable energy,” Mr Nowlan told the Australian Financial Review.

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GreatCell Solar Enters Administration

Last month one of Australia’s longest running solar tech companies, GreatCell Solar, went into administration after the double blow of the death of their lead scientist and a failure to secure funding for its Dye Solar Cells prototype facility. 

GreatCell Solar Calls In Administrators

GreatCell Solar have unfrotunately had to call in administrators in December 2018 due to the death of their chief scientist and a problem with funding.

“The decision follows a series of unfortunate and unwelcome developments in recent weeks, including the untimely death of chief scientist Dr Hans Desilvestro in a mountaineering accident on 10 November,” Greatcell (ASX:GSL) told investors in mid-December. 

According to Stockhead, GreatCell has developed a third generation photovoltaic (PV) technology called Dye Solar Cells (DSC). DSCs are based on dye-sensitised films and are able to convert any visible light (including indoor low light) into electricity. They have been trying to get more funding for the tech but they’ve had problems with that too.

GreatCell Funding Fail

“Despite a global search and chasing down every potential funding opportunity, GSL has not been able to attract sufficient long-term equity investment,” the solar company said in a statement published on RenewEconomy:

“This is an extremely disappointing outcome for Greatcell Solar, its directors, employees and shareholders given the considerable investment already undertaken over many years to achieve an advanced, pre-commercialisation status for its 3rd generation photovoltaic technology.

“The Company is widely considered amongst its international peers to be pre-eminent in the field of Perovskite Solar Cell PV technology” the statement continues.

In late 2007 GreatCell were the recipients of a $6m ARENA grant to help fund research into perovskite solar cell technology. Unfortunately it appears that they’re somewhat stymied at the moment – but they still have a tech roadmap up on their website which leads us to still have some hope:

GreatCell Solar
GreatCell Solar Technology Roadmap (source: greatcellsolar.com.au)

Perovskite solar cells are gaining traction lately and this is the tech used in these prototypes. No word yet on what’s going to happen to Greatcell in 2019, but its statement didn’t leave a surfeit of hope: 

“With the appointment of Administrators, BRI Ferrier, the outlook for shareholders is uncertain at best” it reads. Fingers crossed they’re able to secure some more funding and get back to work with a new team. 

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Walgett Solar Farm to supply 50% of UTS solar

The University of Technology of Sydney (UTS) has signed a PPA with the Walgett Solar Farm which will cover 50% of its energy usage.

Walgett Solar Farm

The $40m Walgett Solar Farm was approved by the NSW government last year – it will eventually output 32MW and is now reaching the next stage of its project lifecycle.

The farm is owned fully by Epuron, who will be able to commence construction on the project after signing this PPA with UTS.

“For our renewable projects to be able to attract finance and get built, it’s crucial to find suitable partners to become committed customers and provide certainty,” Epuron Director Martin Poole told PV Magazine.

“With the UTS commitment to purchase our clean energy output, the Walgett Solar Farm can move ahead and we look forward to commencing construction in the coming months.” Mr Poole continued.

The project is expected to be built in two stages with the first stage outputting around 15MW.

The Walgett Solar Farm will generate approximately 63,000MWh p.a. once complete – enough to power almost 10,000 homes in New South Wales. 

UTS Solar

Walgett Solar Farm
Walgett Solar Farm PPA will help power UTS (source: newsroom.uts.edu.au)

This is the third PPA UTS have signed to add to its renewable portfolio – their main goal, as we wrote last year, is to completely offset their energy usage with renewable energy via a $1.3b ‘City Campus Master Plan’.

“We are committed to finding sustainable solutions to reduce our environmental impact,” UTS Vice-Chancellor Attila Brungs said. “But we don’t just want to create improvement for ourselves, we want to change whole systems to enable others to also improve their sustainability. UTS has spent the last couple of years researching and creating an effective energy model to help reduce emissions while also supporting the continued growth of the renewable energy sector.”

They’ve installed six solar systems on rooftops at the UTS campus and, by 2020/21, are hoping to reduce their emissions 30% on 2007 levels. 

In other university solar news, the University of Newcastle is doing great things with printed solar cells.

 

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