According to the latest RET update by the Clean Energy Regulator (CER), the total accredited capacity now stands at 7,265 MW. In addition to that, Australia also had 4,398 MW of committed capacity at the end of September.
The new accreditations last month include 22 power plants, among which is the 453-MW Coopers Gap Wind Farm in Queensland.
At the end of August, Australia reached the 6,400 MW of capacity it needs to meet the large-scale RET of 33,000 GWh in 2020. Back in 2016, CER said meeting the target would require 6,000 MW of green power capacity, but it later revised the estimate up due to a higher proportion of solar projects in the pipeline.
When a power plant gets RET accreditation, it starts receiving large-scale generation certificates (LGCs) for the electricity it produces. “Liable entities” have to buy these certificates, generating extra revenues for renewable power generators.