Director, Baringa Partners
Dispatchable renewables – a markets and investor perspective
Peter has over 13 years of experience in the energy sector both in Australia and across Europe. He is now leading the development of Baringa’s energy advisory practice in Australia.
Peter has worked in a diverse range of areas, including policy and regulation, business case analysis, asset valuation, transaction advisory and market due diligence, cutting across all asset classes including large-scale thermal, renewables, interconnectors, pumped storage, reciprocating engines and battery storage. He has worked with the whole spectrum of energy clients, including government, regulators, system operators, utilities, project developers, investment and infrastructure funds, lenders, network businesses and industry bodies.
Peter has led the development of the Australian NEM Reference Case.
Prior to working for Baringa, Peter worked for the UK regulator Ofgem in London. Prior to that, he worked for the Australian Energy Regulator (AER) in Melbourne between 2006-09.
This session will focus on the revenue models, business case and financing issues for large-scale storage assets in the NEM. It will provide market-level metrics to demonstrate the strength of the business case for arbitrage and cap contracting strategies in the NEM, and explain the fundamental drivers for differences between the NEM regions. The analysis will highlight the ‘tipping points’ for economic new investment without government support – providing insight on where to invest, in what technologies, and when. The link between contracting strategy and financing structure will also be discussed, highlighting the need for investors and lenders to find a ‘middle-ground’ between pure merchant and pure tolling based models.
The presentation will draw upon findings from Baringa’s work on a number recent high-profile case studies for large-scale storage, including the Genex Kidston solar-pumped storage project in QLD, as well as various large-scale battery and pumped storage projects from the UK.