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New analysis: Momentum continues to build for Australian renewable energy sector

Momentum is building for the Australian renewable energy sector as it makes progress toward the national 2020 Renewable Energy Target (RET) and develops a growing pipeline of projects that can deliver higher ambitions beyond the end of the decade, according to new analysis released by the Clean Energy Council today.

Clean Energy Council Chief Executive Kane Thornton said major projects under construction had created strong momentum and increased confidence across the industry, though many more commitments would be required in order to meet the current 2020 target.

The paper says that about 700 megawatts (MW) of projects had been committed under the RET scheme since the legislation was amended with bipartisan support in mid-2015.

“About 450 MW of projects have been committed in the past three months alone, helping to provide some much-needed momentum for the sector. The flow on benefits of these projects in terms of investment and jobs into rural Australian communities is significant,” Mr Thornton said.