All Energy Australia shines a spotlight on Australian clean energy opportunities

Australia is transforming to become a renewable energy superpower with the capabilities to fuel the world’s net zero ambitions.

These capabilities were on show at All Energy Australia, the largest clean energy event in the Southern Hemisphere. Held in Melbourne on 23–24 October 2024, the conference brought together leading Australian and international businesses from the hydrogen, renewable energy and transportation sectors. Leaders from government and industry were also in attendance.

Austrade supported investors from Europe and Asia, as well as Australian exporters, to explore commercial and partnership opportunities.

Capacity Investment Scheme extended

The event took place off the back of an announcement that Australia would extend its next round of competitive tender bids under its Capacity Investment Scheme (CIS).

Australia’s Minister for Climate Change and Energy, Chris Bowen, announced that Australia’s two upcoming CIS tenders would be increased to 10 GW, with 4 GW of dispatchable renewable power and 6 GW of renewable generation.

The CIS aims to deliver an additional 32 GW of clean energy capacity by 2030.

‘Sustained investment in clean energy is an imperative for Australia,’ says Nur Sidki-Gomez, Austrade Senior Adviser, Trade and Investment. ‘Conferences like All Energy Australia provide the perfect platform to bring together the entire supply chain – investors, developers and government stakeholders – to make clean energy in Australia possible.’

Australia’s role in decarbonising the transport industry

Recent research shows that transport may become the largest emitting sector of the Australian economy from 2030. Australia’s decarbonisation journey will be vital for its ambitions to reach net zero by 2050.

Austrade’s acting Deputy CEO, Trade and Investment, Peter Horn moderated a panel discussion on decarbonising the transport industry. It covered the various pathways that heavy transport and aviation can take to decarbonisation, focusing on opportunities and challenges to decarbonise this industry in Australia and globally.

‘Right now, transport contributes 21% of Australia’s direct emissions,’ says Horn. ‘Adding to that challenge, transport is one of the hardest sectors to abate. However, the opportunity for Australia through liquid fuels, batteries and hydrogen is immense.’

The panel included Lauren Pulitano, Vice President of Public Affairs for Volvo Group Australia; Stephen Forshaw, Airbus’ Chief Representative and Head of Country, Australia, New Zealand and the Pacific; and Pauline Kennedy, Low-carbon Policy and Advocacy Manager, ANZ, BP.

Investment opportunities in Australia’s renewable energy

Foreign direct investment plays a significant role in Australia’s decarbonisation journey. International companies bring tried and tested processes and technologies deployed in other markets that can support and accelerate our transition.

‘We want to help international companies expand in Australia, as we strive to reach our renewable energy superpower goals,’ says Chris Heron, Austrade Senior Adviser, Trade and Investment. ‘We’re looking to encourage investment in energy storage, renewables, and manufacturing that aligns with the Australian Government’s Future Made in Australia agenda.’

Australia is transforming its energy systems and transport networks for a greener future. We are seeking investments in renewable energy, storage and transmission that supports the electricity grid getting to net zero. Investments in projects that require significant amounts of renewable energy – like green metals (including green steel) or green data centres — are also needed.

There are also investment opportunities in low carbon liquid fuels, hydrogen and biogas that decarbonise other industries and have the potential to be transported and exported.

Australia, too, can contribute to global efforts to transition to net zero. We are a reliable supplier of critical minerals and strategic materials that are the essential components of transformative technologies. We also offer products, technologies and services that support businesses and governments to decarbonise their operations and economies.