Macquarie owned Green Investment Group’s Renewable Energy Fund 2 has far exceeded its own expectations by raising over AUD$2.5 billion in investment commitments for large-scale solar and wind projects all over the world, including Australia.
The University of New South Wales along with several other universities and the CSIRO are embarking on a feasibility study into how New South Wales can utilise excess renewable energy to make fuel, chemicals and feedstocks for industry. The aim is to develop a plan for how fuels and chemicals such as green hydrogen and ammonia produced from renewables can decarbonise industry and grow manufacturing.
The Australian Renewable Energy Agency is funding Jemena to the tune of $1.6 million toward a new trial in which various electricity networks in Victoria, ACT, and Tasmania will manage residential EV charging to better prepare the grid for a time when mass charging will take place at peak periods.
CEP.Energy has joined the race that stores the nation, the race, that is, for big battery supremacy. Joining giants like AGL, Origin Energy and Neoen, CEP.Energy has announced plans for a 1.2 GW megabattery in the Hunter region of New South Wales. The battery is one of four in a 2 GW battery storage portfolio planned throughout Australia.
Wood Mackenzie has called on policymakers to revise the Renewable Energy Target with more ambitious goals and, concordantly, large-scale investment in grid flexibility to ensure new renewables can join the grid. If we don’t act in this pivotal moment, WoodMac believes we will be left holding stranded assets.
Researchers from Swinburne University and China’s Shaanxi Normal University have managed to develop a novel catalyst for highly efficient production of green hydrogen from seawater via solar. This catalyst, which required researchers to invent a prototype device called a ‘Ocean-H2-Rig’, highlights the potential of this technology and that we are only just now starting to scratch the surface.
Spanish-Japanese renewable energy company Univergy Solar and local partner New Energy Developments are set to begin construction on the 120 MW Wallaroo Solar Farm on the NSW/ACT border by the end of 2021. The agrivoltaic installation will operate symbiotically as a generator of clean energy, grazing land, and a thriving habitat for native vegetation and pollinators.
Moves by Japan’s trading houses to de-risk their upstream portfolios make sense. Faced with falling domestic oil and gas demand and an accelerating energy transition, future E&P investment is far less certain. Strategy reviews are switching focus to new growth areas – covering everything from fintech to pork bellies – with the increasingly diverse businesses of Japan’s trading houses challenging upstream for future capital.
WePower has delivered its blockchain-enabled Elemental technology to Mojo Power for the establishment of the Mojo Marketplace, an online shopping setup whereby businesses and industry can shop for locally sourced renewable energy retail contracts.
Canadian behemoth Atco has purchased the rights to develop the 325 MW Central West Pumped Storage Hydro Project in Central West New South Wales and credits the investment to policy certainty from the NSW Government. As a significant firming agent the project is ideally placed in the state’s proposed Central West-Orana Renewable Energy Zone
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