A report released by Australian clean energy regulator CEFC (Clean Energy Finance Corporation) has stated that the country has the capability to double its bioenergy production by 2020.
Bioenergy is a new source of energy that minimise carbon emissions and offer significant energy from waste for business and local government.
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The CEFC report further stated that the country has a scope to invest between $3.5bn and $5bn in energy from urban waste, agricultural waste and plantation forest residues in the next five years.
The country could get rid of 9 million tonnes of carbon emissions per year with the help of new bioenergy and energy from waste.
Bioenergy has the potential to offer abundant baseload renewable electricity and reduce landfill waste as well as replace waste disposal techniques.
At present, the country’s sugar industry produces largest volume of bioenergy production, which, according to CEFC can produce over 400MW of energy and the urban waste sector attract an investment of around $2.2bn to $3.3bn.
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By GlobalDataCEFC CEO Oliver Yates said: "We see the potential for up to 800MW of new generation from bioenergy, valued at up to $5 billion. This could potentially avoid more than 9 million tonnes of carbon emissions annually, providing a small but vital element of Australia’s future energy mix.
"The CEFC sees important bioenergy opportunities across the economy, including in urban waste, intensive livestock and food processing, and plantation forest residues.
"We have already committed around $150 million in bioenergy and enery from waste projects, and this has catalysed a further $280 million in private sector investment. Our investment pipeline includes $3.5 billion of bioenergy and energy from waste projects, including projects to produce wood pellets, convert sugar cane to ethanol and to convert municipal solid waste and animal waste to energy."
