The renewable energy pipeline is drying up after a robust start to 2023 as “headwinds” increase, the industry warns.
Data released by the Clean Energy Council for the first three months of the year shows eight projects commenced construction in the quarter.
Worth a total of $1.3 billion (US$845 million) in value—almost double the final three months of 2022—three of those projects are in Western Australia, where the exit from coal-fired generation has accelerated.
However, there has also been a significant fall in new financial commitments for large-scale renewable generation projects.
No renewable generation projects reached financial close in the first quarter of 2023, which is a leading indicator for the project pipeline, according to the industry’s council….