Australia is set to meet its 2020 Renewable Energy Target of 33,000GWh of additional generation, according to the Clean Energy Regulator.

CER had originally calculated that to meet the target, roughly 6GW of large-scale renewables capacity would have to be built between 2016 and 2019, and they are already ahead of schedule.

Around 6,532MW of new large-scale capacity has been announced since 2016, 46% of which is solar, with 4.9GW now financed and much of this already under construction or operational. The remainder is set to start construction early this year. There are a further 1.6GW of projects that have power purchase agreements in place that CER expects to reach financial agreement.