![]() ![]() “I can understand why Petronas would want to start in Australia, as they already understand the market and the system here through their gas investments, but they had better have done their homework, because most of Wirsol’s assets are solar,” he said. The last time prices hit 2022’s records but this was before Australia had installed “several gigawatts” of new capacity, Green Energy Markets director Tristan Edis, told RenewEconomy. ![]() “Prices for large scale solar averaged $108/ MWh in 2022 as energy prices spiked on the back of Putin’s war with Ukraine, according to data from OpenNEM. RenewEconomy reported that Petronas is buying at a time of record high solar prices in Australia. The German company is selling off the assets of its Australian subsidiary Wirsol Energy which includes 746 megawatts (MW) of solar and battery and a 700 MW development pipeline, for a price potentially between $900 million and $1 billion, according to Reuters. Petronas is the latest big oil company to move into Australian renewables, with the Malaysia state-backed energy company reportedly poised to acquire the local assets of German solar and storage developer Wirsol. Loading Spinner An icon of a loading spinner. Success Tick Timeout An icon of a greyed out success tick. Information An icon of an information logo. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Video Camera An icon of a video camera shape. Previous An icon of an arrow pointing to the left. Notice An explanation mark centred inside a circle. Next An icon of an arrow pointing to the right. Hamburger Menu Icon An icon used to represent a collapsed menu. Search Icon A magnifying glass icon that is used to represent the function of searching. Magnifying Glass An icon of a magnifying glass. Comments An icon of a speech bubble, denoting user comments. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Breaking An icon of an exclamation mark on a circular background. Pause Icon A two-lined pause icon for stopping interactions. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Is Public An icon of a human eye and eyelashes. Telephone An icon of a traditional telephone receiver. Profile An icon that resembles human head and shoulders. Linked In An icon of the Linked In "in" mark. Facebook An icon of the Facebook "f" mark. Caret An icon of a block arrow pointing to the right. Cancel An icon of a circle with a diagonal line across. ![]()
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