State-owned energy company Horizon Power has acquired a 50 per cent stake in West Australian Alternative Energy (WAAE), in a push to support the McGowan Government’s target to reach an 80 per cent reduction in government emissions by 2030.
The investment will address the renewable energy sector’s broad supply chain concerns, which are affecting equipment and project delivery, the government said in a media statement.
The acquisition will also alleviate the constrained local workforce spurred by unprecedented demand for renewable energy installations.
With solar and low-emissions projects, the collaboration is intended to help Horizon Power fulfil its carbon reduction emissions objective across its service region of 34 microgrids and 117 remote settlements.
Energy Minister Bill Johnston congratulated Horizon Power and West Australian Alternative Energy on their joint venture.
“The partnership will help tackle the supply chain issues and workforce constraints being felt across the country and support the acceleration of renewable energy solutions in our state,” Johnston stated.
The new agreement, according to the minister, supports the state government and Horizon Power’s commitment to reducing greenhouse gas emissions and represents a positive step forward on the decarbonisation journey.
Headquartered in Cockburn Central, WAAE employs more than 20 full-time, local employees, with staff numbers expected to double over the next few years.
In March 2022, WAAE completed Horizon Power’s Kalumburu hybrid solar project – supporting the remote Kimberley community to transition to renewable energy.
WAAE has also delivered a number of other solar projects for commercial businesses in Perth and remote and regional WA over the past 20 years.
