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Achieving final investment decision on renewable energy projects

Helping organisations reach final investment decision (FID) by organising, collating, focusing, and unblocking the barriers to Australia delivering its emissions reduction targets.

Tailor-made accelerator helping clients successfully navigate the energy transition

Australia has set ambitious renewable targets – 82% renewable generated electricity by 2030. However, we are at serious risk of falling significantly behind those ambitions.

The scale and speed at which we are delivering renewable technology into the electricity grid is too slow. To meet its 2050 targets, for domestic needs solely, Australia needs to increase its current generation capacity five-fold.

Australia has a substantial pipeline of proposed renewable energy generation projects (currently more than 250 GW for the NEM alone). The vast majority of these projects are stuck in the early stages of the development lifecycle – pre final investment decision. The critical thing is to get these projects organised and away from desktop analysis and into investment committees and ultimately constructed and grid connected.

But this is not happening fast enough. This is due to four main reasons:

  • Supply chain, local content requirements
  • Social license and permitting issues
  • Transmission build and grid connectivity issues
  • Revenue certainty.

How do organisations fast track their journey to reach FID and thus unlock funding, procurement and ultimately, construction?

Our Approach

Welcome to Smart.FID, a first of its kind energy transition project accelerator that brings a singular and hyper-focused approach to achieving one goal. FID. Smart.FID is a ‘set-menu’ approach designed to expedite the journey to reaching the major milestone of final investment decision, and subsequently, paving the way for organisations to roll out the renewables infrastructure required for Australia to meet its emissions reductions targets.

Deloitte’s Smart.FID helps clients achieve this singular focus by –

  • Undertaking a diagnostic and health check of the development project.
  • Reorganising the project around the critical path to reach FID.
  • Using AI and other smart techniques to analyse existing projects and their lessons from around the world
  • Implementing a program tracking dashboard for executive transparency to show T minus from FID day.
  • Adding capability and interventions (from strategy, regulation, digital, tax, legal and financial).