Lumea piloted a world-first renewable energy capacity auction using a new commercial development model for collaborative renewable energy development.
The project sought to minimise costs to generators through providing fit-for-purpose infrastructure, essential asset and support policies, as well as grid stability for four renewable energy generation projects in the New England region.
While NECCA unequivocally confirmed that there is merit in capital funded development, the NECCA project was developed in 2019, prior to the NSW Government's Energy Roadmap. The roadmap, along with various regulatory and policy shifts made since the commencement mean that there are now many more possibilities to drive the transition to renewable energy.
Lumea's focus remains on providing solutions to accelerate the energy transition. This will be done through the NSW Energy Roadmap and associated opportunities, and therefore the proposed New England Transmission Infrastructure (NETI) project will not move forward.
A number of companies are exploring individual and collective arrangements to progress their projects in the area.
Lumea is delighted to have laid the foundations for our customers to take elements of the NETI project forward, and will continue to service and support our customers’ future projects in the area.
This project received funding from ARENA for the initial market engagement phase as part of ARENA’s Advancing Renewables Program.