Latest news with #VicGrid
National Post
6 days ago
- Business
- National Post
AECOM to accelerate Australia's energy transition as technical advisor to VicGrid
Article content DALLAS — AECOM (NYSE: ACM), the trusted global infrastructure leader, today announced that it has been appointed as technical advisor and lead consultant, partnering with GHD as a key subconsultant and a team of specialist contractors for VicGrid in Victoria, Australia. A newly established Victorian government agency, VicGrid expects to plan and develop energy infrastructure to ensure a reliable and efficient electricity grid. Article content In its role as technical advisor, AECOM will provide technical advice and support for the development and delivery of VicGrid's energy infrastructure program. The core work will include services across the asset lifecycle, such as engineering, and land, planning and environmental approvals, and will include partnering with First Nations subcontractors. Article content 'Our energy specialists have established themselves as trusted advisors for some of the world's largest power utilities as they drive progress on the energy transition,' said Frank Sweet, chief executive of AECOM's global Environment business. 'We continue to grow our leadership in the energy and power sectors, and we look forward to collaborating with VicGrid to realize more sustainable, reliable energy infrastructure that benefits millions of customers across Victoria.' Article content Victoria is undergoing a significant transformation to build a next-generation power grid and enable the transition to renewable energy. VicGrid expects to take on coordinating the planning, development and delivery of the state's Renewable Energy Zones and transmission infrastructure and will lead investment in projects to strengthen and modernize Victoria's energy grid, including the delivery of transmission required to connect new offshore wind resources to the grid. Article content 'We are excited to work with our partners to support VicGrid in delivering the energy transition and providing safe and affordable power for Victorians,' said Mark McManamny, chief executive of AECOM's Australia and New Zealand region. 'Our team brings deep technical knowledge and capability, leading environment and energy credentials, and valuable local and global experience to deliver across the entire project lifecycle.' Article content About AECOM Article content AECOM (NYSE: ACM) is the global infrastructure leader, committed to delivering a better world. As a trusted professional services firm powered by deep technical abilities, we solve our clients' complex challenges in water, environment, energy, transportation and buildings. Our teams partner with public- and private-sector clients to create innovative, sustainable and resilient solutions throughout the project lifecycle – from advisory, planning, design and engineering to program and construction management. AECOM is a Fortune 500 firm that had revenue of $16.1 billion in fiscal year 2024. Learn more at Article content Forward-Looking Statements Article content All statements in this communication other than statements of historical fact are 'forward-looking statements' for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, capital allocation strategy including stock repurchases, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; potential government shutdowns, changes in administration or other funding directives and circumstances that may cause governmental agencies to modify, curtail or terminate our contracts; losses under fixed-price contracts; limited control over operations that run through our joint venture entities; liability for misconduct by our employees or consultants; changes in government laws, regulations and policies, including failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; potential high leverage and inability to service our debt and guarantees; ability to continue payment of dividends; exposure to political and economic risks in different countries, including tariffs and trade policies, geopolitical events, and conflicts; inflation, currency exchange rates and interest rate fluctuations; changes in capital markets and stock market volatility; retaining and recruiting key technical and management personnel; legal claims and litigation; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; managing pension costs; AECOM Capital real estate development projects; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of the sale of our Management Services and self-perform at-risk civil infrastructure, power construction and oil and gas businesses, including the risk that any purchase adjustments from those transactions could be unfavorable and result in any future proceeds owed to us as part of the transactions could be lower than we expect; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement. Article content Article content Article content Article content Media Contact: Article content 213-996-2367 Article content Article content Article content
Business Wire
6 days ago
- Business
- Business Wire
AECOM to accelerate Australia's energy transition as technical advisor to VicGrid
DALLAS--(BUSINESS WIRE)--AECOM (NYSE: ACM), the trusted global infrastructure leader, today announced that it has been appointed as technical advisor and lead consultant, partnering with GHD as a key subconsultant and a team of specialist contractors for VicGrid in Victoria, Australia. A newly established Victorian government agency, VicGrid expects to plan and develop energy infrastructure to ensure a reliable and efficient electricity grid. In its role as technical advisor, AECOM will provide technical advice and support for the development and delivery of VicGrid's energy infrastructure program. The core work will include services across the asset lifecycle, such as engineering, and land, planning and environmental approvals, and will include partnering with First Nations subcontractors. 'Our energy specialists have established themselves as trusted advisors for some of the world's largest power utilities as they drive progress on the energy transition,' said Frank Sweet, chief executive of AECOM's global Environment business. 'We continue to grow our leadership in the energy and power sectors, and we look forward to collaborating with VicGrid to realize more sustainable, reliable energy infrastructure that benefits millions of customers across Victoria.' Victoria is undergoing a significant transformation to build a next-generation power grid and enable the transition to renewable energy. VicGrid expects to take on coordinating the planning, development and delivery of the state's Renewable Energy Zones and transmission infrastructure and will lead investment in projects to strengthen and modernize Victoria's energy grid, including the delivery of transmission required to connect new offshore wind resources to the grid. 'We are excited to work with our partners to support VicGrid in delivering the energy transition and providing safe and affordable power for Victorians,' said Mark McManamny, chief executive of AECOM's Australia and New Zealand region. 'Our team brings deep technical knowledge and capability, leading environment and energy credentials, and valuable local and global experience to deliver across the entire project lifecycle.' About AECOM AECOM (NYSE: ACM) is the global infrastructure leader, committed to delivering a better world. As a trusted professional services firm powered by deep technical abilities, we solve our clients' complex challenges in water, environment, energy, transportation and buildings. Our teams partner with public- and private-sector clients to create innovative, sustainable and resilient solutions throughout the project lifecycle – from advisory, planning, design and engineering to program and construction management. AECOM is a Fortune 500 firm that had revenue of $16.1 billion in fiscal year 2024. Learn more at Forward-Looking Statements All statements in this communication other than statements of historical fact are 'forward-looking statements' for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, capital allocation strategy including stock repurchases, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; potential government shutdowns, changes in administration or other funding directives and circumstances that may cause governmental agencies to modify, curtail or terminate our contracts; losses under fixed-price contracts; limited control over operations that run through our joint venture entities; liability for misconduct by our employees or consultants; changes in government laws, regulations and policies, including failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; potential high leverage and inability to service our debt and guarantees; ability to continue payment of dividends; exposure to political and economic risks in different countries, including tariffs and trade policies, geopolitical events, and conflicts; inflation, currency exchange rates and interest rate fluctuations; changes in capital markets and stock market volatility; retaining and recruiting key technical and management personnel; legal claims and litigation; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; managing pension costs; AECOM Capital real estate development projects; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of the sale of our Management Services and self-perform at-risk civil infrastructure, power construction and oil and gas businesses, including the risk that any purchase adjustments from those transactions could be unfavorable and result in any future proceeds owed to us as part of the transactions could be lower than we expect; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
Herald Sun
27-05-2025
- Business
- Herald Sun
Offshore wind generation failure: risks more onshore wind turbines
Don't miss out on the headlines from Victoria. Followed categories will be added to My News. The Victorian government's plan to get nine gigawatts of wind-farm capacity built off the state's coast is falling apart, putting farmers at risk of more onshore developments and transmission lines to offset the loss. Three offshore wind developments have already been abandoned — the 1.5GW Seadragon project off the coast of Ninety Mile Beach, the 0.5GW Vic Offshore and 1.1GW Southern Winds projects located off Portland. Even the massive 2.2GW Star of the South project is still preparing an environmental effects statement, despite having completed five years of scientific and feasibility studies. Last year federal Environment Minister Tanya Plibersek even rejected a Victorian government proposal to build a renewable energy terminal at the Port of Hastings, which was to be a base to build wind turbines before they were taken out to sea. Centre for Independent Studies energy research director Aidan Morrison said: 'We're seeing (offshore) projects cancelled left right and centre, because they're too expensive. 'Offshore wind developments cost at least twice as much as those onshore.' Yet despite the high costs and uncertainty the Victorian government's renewable energy planner, VicGrid, has incorporated 9GW of offshore wind development in its recently released transmission plan. VicGrid's assumes 500 offshore wind turbines, with an average capacity of 18MW, will be built from 2032 to 2040 to generate 9GW of capacity, equivalent to eight Loy Yang B power stations. VicGrid's plan also factors in 5.8GW of onshore wind farm developments, equivalent to 970 much smaller 6MW turbines. However, if Victoria's 9GW of offshore generation fails to materialise and is pushed onshore, the number of wind turbines that will need to be built across regional Victoria swells to 2470. VicGrid was asked if a shortfall in its offshore generation target meant more transmission lines and onshore renewable developments, but failed to answer the question, simply stating it would be regularly reviewing its plan. Victorian Energy Policy Centre director Bruce Mountain said the Victorian Government large targets offshore wind targets 'pre-suppose significant demand growth'. '(But) both demand growth and the challenges and costs of offshore wind are uncertain,' professor Mountain said. 'There has already been a large increase in offshore wind costs relative to expectations when the policy was adopted.' He said wind development off Victoria's coast 'now depends crucially on federal government support (and) much remains to be discovered'. Originally published as Offshore wind generation failure
ABC News
20-05-2025
- Politics
- ABC News
Farmers may lock the gate on renewables in Victoria
The Victorian government is pushing ahead with its long-term plan to transition to renewable energy, while farmers in the path of proposed projects have vowed to lock out developers. Government authority VicGrid released its draft 2025 Victorian Transmission Plan late last week, outlining a 15-year plan to move away from coal. It outlined seven priority renewable energy generation zones, a shoreline zone in Gippsland and four new transmission lines to be built over the next 15 years, with 970 turbines and 5.2 million solar panels expected to be added in that time. Ross Johns's Wimmera farm sits within one of Victoria's proposed renewable energy zones, north of Horsham in the state's west. Mr Johns, president of the Wimmera Mallee Environmental and Agricultural Protection Association, said most farmers were unequivocally opposed to new renewables projects and transmission lines on farmland. "The government has to build this through what I would say is enemy territory, and I think it's going to be extraordinarily difficult," he said. Mr Johns said farmers felt abandoned by the state government and were also at war with it over its emergency services and volunteers levy. "This government has totally disregarded regional Victoria and totally disregarded farmers' rights and the importance of agriculture to the Victorian economy," he said. In the state's east at Giffard West, south of Sale, farmer Trent Anderson said sentiments were similar in his community. "We know everyone needs the power but this VicGrid, government push is just garbage," he said. Mr Anderson said an underground powerline was previously planned for his region, but that was being replaced with an overhead line under the new plan. "We will deal in really good faith with all the companies working on underground [transmission lines]," he said. "The whole point of this is that we're sick of everything changing all the time." VicGrid chief executive Alistair Parker acknowledged the broad opposition to renewables infrastructure on farmland, but said the impact would be limited. The planned renewable energy zones cover about 7 per cent of the state, but Mr Parker said only about 11 per cent of the land would be needed for development. Renewables projects are permitted outside the zones, but VicGrid said they must not "have a negative impact on other projects inside the zone". Mr Parker said the new transmission lines would be built on existing easements where possible. He said VicGrid was "committed to working with people and listening to what they value most in the landscape". Ultimately, landowners cannot block transmission lines on their land. But Mr Parker said they had the right to refuse wind and solar projects. "People are obviously really distressed in some communities about this sort of industrial infrastructure," he said. Renewable Energy Alliance national director Andrew Bray said listening to communities was key to establishing social licence around the transmission plan. "We're actually quite pleased to see the government engaging in a way that really allows lots of feedback loops for the community to be involved," said Mr Bray, whose independent not-for-profit was working with regional communities on the shift to renewables. The Transmission Plan will be open to feedback until June 24, before a final plan is published on July 31. Additional reporting by Warwick Long and Danielle Pope.
