The clean energy arm of Malaysia’s national oil and gas company Petronas intends to use acquisitions, joint ventures and organic growth to build a portfolio of solar, wind and battery storage projects totalling between 5 gigawatts and 8 gigawatts by 2030.
“That’s one thing, but at the same time we are also looking at suitable assets which might fit into our strategy to expand. Andrew Barson, chief executive of the Australian business, also pointed to the recognition among federal and state governments about the need for new investment, backed by funding from the Rewiring the Nation initiative and from the Clean Energy Finance Corporation.
However, the next two projects expected to reach a final investment decision are the Maryvale solar and battery project in NSW and the Barnawartha solar and battery project in Victoria, with a combined capacity of more than 500 MW.