Wind cements place as cheapest energy in Australia

The price of wind power in Australia has dropped to a record low, making wind power the country’s cheapest new electricity source.

South Australia’s Hornsdale Wind Farm (Stage 3) has agreed to sell its electricity to the ACT Government for just $73 per MWh, fixed for 20 years, in the territory’s latest reverse auction.

The Australian Wind Alliance national coordinator Andrew Bray said it’s a significant milestone for Australia’s wind industry.

“You’d be lucky to build half a gas-burning power plant for that price,” said Bray. “The cost of wind power has dropped by 50% over the last seven years.

“This shows how strong the business case is for renewables. It’s only policy uncertainty that is holding the industry back.

“State- and territory-based schemes such as the ACT’s wind auctions are vital to seizing the opportunities that wind energy offers.”

The Wind Alliance has also welcomed the ACT Government’s decision to contract power from a new wind farm in Crookwell, outside of Goulburn in New South Wales.

The $200 million project is expected to support 80 direct construction jobs and 14 ongoing operational jobs. The project’s proponent, Union Fenosa Wind Australia (Union Fenosa), has promised to give $70,000 each year to the local community for the life of the project as well as giving farmers a steady income stream.

“This is great news for the entire community. We’ve been working for 16 years to get this project up,” said Charlie Prell, one of three farmers who will host wind turbines on their property.

The Crookwell 2 Wind Farm is currently seeking consent for a modification to its planning approval from the NSW Government.