As the renewable energy sector gears up for transformative growth throughout 2025, Ben Evans, Regional Head of Renewables at SP Clean Energy, highlights some of the key developments announced Q4 2024.
Western Australia’s BRCP update – a game-changer.
The Economic Regulation Authority (ERA) has announced the 2025 Benchmark Reserve Capacity Prices (BRCPs) for the 2027/28 capacity year, and it’s a game-changer for the industry.
The BRCP has increased by 57% to $360,700 per MW/year, and the reason behind it is just as exciting: a shift in benchmark technology to 200 MW / 800 MWh Battery Energy Storage Systems (BESS). This replaces the older gas turbine models, signalling a massive leap forward in clean energy adoption.
Why it matters:
Accelerating the energy transition: The adoption of battery storage as the benchmark technology demonstrates the critical role #BESS plays in stabilising the grid and integrating renewables effectively.
Incentivising clean energy projects: The higher BRCP sends a strong investment signal to #developers and providers, encouraging the growth of sustainable energy capacity in the Southwest Interconnected System (SWIS).
Sustainability milestone: Moving away from diesel-powered turbines toward large-scale batteries aligns with broader environmental and carbon reduction goals.
This pricing update highlights the government’s commitment to modernising energy infrastructure and creating a grid capable of supporting renewable energy at scale. It’s great news for #developers, #investors, and anyone working towards a cleaner energy future.
Victoria’s offshore wind transmission initiative.
Victoria has taken a major step in developing Australia’s offshore wind industry by launching an Expression of Interest (EOI) process for private companies to build transmission infrastructure connecting Gippsland’s offshore wind farms to the state’s grid. VicGrid, the overseeing body, seeks private sector partners to design, build, finance, operate, and maintain this onshore network, marking a significant milestone in Australia’s energy transition.
Key highlights:
Leadership in offshore wind development: This initiative positions Victoria at the forefront of Australia’s renewable energy sector. As the first Australian state to advance offshore wind projects, Victoria demonstrates its commitment to meeting its ambitious 95% renewable energy target by 2035.
Regional economic benefits: The project is expected to generate substantial employment, averaging 600 jobs annually during construction, with a peak of 1,460 jobs in 2027. This boost will directly support regional communities and local economies, particularly in Gippsland.
Ireland’s offshore wind expansion.
Ireland has approved terms for its second offshore wind auction, targeting the “Tonn Nua” project off the south coast. This initiative, with a potential to cut CO₂ emissions by 1.8 million tonnes annually, supports Ireland’s goal of 80% renewable electricity by 2030. It promises to inject €4.4 billion into the economy and establish a €140 million community benefit fund over 20 years.
Asia-Pacific’s offshore wind potential.
The Asia-Pacific region, forecasted to host 61% of global wind installations by 2030, is focusing on supply chain resilience. Strategic investments in ports, vessels, and grids are crucial for realizing its offshore wind potential.
Australia and India have strengthened ties through partnerships in solar manufacturing, battery production, and green hydrogen. Similarly, Indonesia’s pledge for 75 GW of renewables by 2040 reflects a growing commitment to clean energy transitions.
A Renewable-driven decade.
Ben says: “The global renewables sector is advancing at an unprecedented pace, driven by innovative policies, substantial investments, and international collaboration. With battery storage, offshore wind, and hybrid systems leading the charge, 2025 is set to be a defining year for achieving sustainable energy goals. The collective efforts of governments, industries, and communities worldwide signal a brighter, cleaner future for the planet.”
SP Clean Energy.
As a division of Shirley Parsons, SP Clean Energy is dedicated to supporting clean energy projects globally. With expertise in wind, solar, battery storage, and hydro projects, we provide tailored solutions to meet the evolving needs of the renewables industry.
From HSEQ consultancy to staffing solutions, SP Clean Energy partners with developers and contractors to ensure the safe, sustainable, and efficient delivery of renewable energy projects.
To find out more about SP Clean Energy click here or, to get in touch with our team, fill out your details below.
