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A new Climate Energy Finance (CEF) report puts common-user electricity grid infrastructure (CUI) at the heart of the decarbonisation of Australia’s lucrative iron ore ‘food bowl’ in the Western Australia Pilbara region. The report, called Superpowering-up, says the Pilbara currently sources 2% of its electricity from renewables, hindered by “fragmented corporate energy production and grid transmission structures’. It says mining majors such as BHP Iron Ore rely on burning 2.4 billion litres/year of subsidised, high emissions imported diesel and fossil gas for energy demand in the Pilbara. Read more

A new report released today by independent public interest think tank Climate Energy Finance (CEF), SUPERPOWERING-UP, with a foreword by former chief scientist Dr Alan Finkel, finds that failure to act now to electrify and decarbonise WA’s Pilbara region – Australia’s resources engine room and the world’s biggest exporter of iron ore – risks Australia’s biggest single future export opportunity: to potentially double our iron exports to $250bn pa by producing green iron. Read more

Environmental approval processes are obstructing critical renewable energy infrastructure needed to develop a lucrative green steel industry in Western Australia’s resource-rich Pilbara, experts warn. A Climate Energy Finance report estimates Australia has the potential to double its iron export value to $250 billion by producing green iron, but not if it loses out to international competitors because governments and industry fail to develop the sector. Former Australian chief scientist Alan Finkel said the country’s regulatory systems were “too complex, unbalanced and slow”, with environmental approvals potentially obstructing critical renewable energy infrastructure. Read more

As Climate Energy Finance argues in a new report, the decarbonisation and electrification of the Pilbara should be a national priority. Part of this focus should be investment in common user infrastructure for the electricity grid to enable the rollout of large-scale solar and wind projects, and part should be initiatives such as co-location of solar and wind power with green metals refining to reduce the size of the challenge in expanding the electricity grid in the Pilbara. The consequences of acting too slowly or inefficiently will be severe. The international competition will be fierce. Brazil, South Africa and other countries can dig and ship their iron ore to countries in the Middle East, where they will use low-cost, zero emissions electricity to convert the crude iron ore into refined green iron. Read more

Syndicated widely via AAP | Australia has a “once-in-a-century opportunity” to lead the world’s green iron industry but could miss it if governments, mining firms and investors fail to take urgent action, a study has found. The 78-page report, released on Tuesday by independent think tank Climate Energy Finance, analysed the nation’s potential to transform its iron industry using renewable energy and found it could double export revenue to $250 billion a year. But it also found only two per cent of electricity used in Western Australia’s Pilbara region came from renewable sources and warned Australia could lose the opportunity to other countries if it delayed reforms. Read more

Companies in the Pilbara need to think bigger if Australia is to achieve both emissions reductions goals and if they want to capitalise on an annual $250 billion green iron opportunity, says a new report. Miners and oil and gas companies need to accelerate plans to share their energy infrastructure and create a single common-user electricity grid, says the Superpowering Up report from think tank Climate Energy Finance (CEF). Ending the feudal approach to energy infrastructure in the Pilbara, where every company builds and owns generation and grids on their own patch, there is scope to add the estimated $50-100 billion of extra renewable energy generation needed to decarbonise Australia’s biggest mining region. Read more

A report released by think tank Climate Energy Finance (CEF) has claimed that decarbonising the Pilbara region of Western Australia is key to doubling Australian iron exports by value to $250 billion. The report, SUPERPOWERING-UP, was released on Tuesday and warns against continued inaction in greening the Pilbara’s energy supply. According to the report, only 2 per cent of the region’s electricity is from renewables, with “fragmented corporate energy production and grid transmission structures” standing in the way of progress. It identifies a single common-user electricity grid infrastructure (CUI) as the key ingredient in decarbonising the region. Read more

A new report has recommended the Pilbara invest in common-user infrastructure (CUI) to leverage Australia’s role in resources decarbonisation. ‘SUPERPOWERING-UP: Accelerating the electrification and decarbonisation of the Pilbara’ made several recommendations to the Federal Government, including investing in renewables-powered green metals refining, critical minerals processing and cleantech manufacturing. Among the recommendations to the WA Government was the prioritisation of the development of a comprehensive single CUI plan in the Pilbara region, and the legislation of the state’s Climate Change Bill 2023 to drive acceleration of net-zero across the state. Read more

A new CEF report has found that without immediate action to decarbonise the Pilbara – and harness hydrogen – Australia risks losing its place in the future green iron industry. A new report from Climate Energy Finance (CEF) warns that failing to decarbonise and electrify Western Australia’s Pilbara region could jeopardise Australia’s future in the green iron industry. The report, titled Superpowering-Up, highlights the critical role of hydrogen in transforming Australia’s iron ore exports into high-value green iron, positioning the country as a leader in the global renewable energy market. Read more

Last week, Australian oil and gas company Woodside Energy Group Ltd announced it would buy Texas’ OCI Clean Ammonia Holding BV, a company outside Woodside’s core area of expertise. Analyst Tim Buckley, founder and director of Climate Energy Finance, called the deal “a huge overpayment for a project that’s not even operational. “It’s such an ambitious and expensive first move; the risks are stacked against them.” Read more

Tim Buckley told Straits Times that Australia is set to be one of the world’s largest sources of renewable energy such as wind and solar power, and that these could eventually be used to produce vast quantities of green hydrogen. “Twiggy (Dr Forrest) was too far ahead of the curve – he has now pivoted to something that is more achievable this decade,” Read more

Tim Buckley reviews Treasurer Jim Chalmers’ Future Made in Australia Budget handed down this week, breaking down the key takeouts and what it means for Australia’s pathway to decarbonisation as the the energy transition accelerates globally. Read more