CEO’s report - Richard Lowe
”In a year full of transformation and notable disruption in the energy sector, I’m proud to report on Lumea’s progress in helping build the foundation for a stable transition to a clean energy future.”
In June 2022, we unveiled Lumea’s new growth strategy that sets a path for us to add 35 per cent to the Transgrid Group’s EBITDA by 2030. This strategy reflects the growing momentum to decarbonise and seize the opportunity for Australia to become a renewable energy superpower.
Aside from the success of core business activities, significant work has been done internally to further prepare Lumea to continue growing exponentially. We have expanded Lumea’s leadership team capability with a dedicated focus on major projects, asset management, and innovation and new ventures. This has been central in providing Lumea with the skills and expertise needed to support our ambitious growth agenda. This breadth reflects our growing capabilities and the scope of new products and integrated services we provide for our customers.
Lumea is focused on assisting our customers progress Australia’s new energy generation sector, including hydrogen and offshore wind.
Our expertise in innovative connections combines detailed technical knowledge with creative commercial problem-solving. It means we have helped bring more renewable energy into the grid than any other organisation, about 13GW, generating enough power for more than five million homes.
We look forward to bringing the drive, creativity, and commerciality of our approach to emerging sectors, and in so doing, accelerating the journey to decarbonisation. In the face of economic uncertainty in the 2022 financial year, the strength and integrity of the business has remained, and Lumea is now poised to expand and grow successfully and sustainably.
Lumea has been actively engaged with local communities throughout the year. We also committed to sponsor Scholarships for the Western Sydney Leadership Programme over three years, for participants from NGO’s in this region.