Energy Storage

In what is described as Australian first climate bond, which gives investors access to new ways to invest in solar and storage, the Clean Energy Finance Corporation (CEFC) has contributed $10 million towards the latest of FlexiGroup’s green bond issuances. The inclusion of energy storage in the underlying asset base is viewed as an important market development.

Toyota Australia will transform its former manufacturing site in West Melbourne into a renewable energy hub to produce green hydrogen with the help of funding from the Australian Renewable Energy Agency (ARENA). In other hydrogen-related news, researchers at UNSW Sydney with partners H2Store have received a $3.5 million investment from Providence Asset Group to develop a hydrogen residential storage.

German battery supplier and integrator Tesvolt has been recognized by the Alliance for Rural Electrification for its battery 48 kWh project at an avocado farm in Pemberton, in WA’s Southwest. The project integrates the lithium ion system with a 160 kWh saltwater battery and 53 kW solar array – allowing the farm to become 100% self sufficient.

Following months of uncertainty around its financial position, Carnegie Clean Energy and its fully owned subsidiaries went into voluntary administration last week. In its latest statement to ASX, the renewable energy developer says it has struck a deal with one of its directors to provide funding support while administrators attempt to recapitalize its wave power business.

Horizon Power, Western Australia’s regional power provider, has commenced the second stage of its Onslow microgrid project, which will provide local residents and businesses with access to low-cost solar and energy storage systems. German storage provider Senec has been chosen to supply batteries to the project.

Analysis released today by independent energy and consulting firm, Rystad Energy shows an incredible reserve of energy storage has been added to Australia’s ongoing boom in solar and wind projects during the first two months of 2019 — confidence, perhaps, that an energy-transition policy will finally triumph at the Federal polls!

Open-source blockchain platform Energy Web Foundation has revealed the number of its affiliates has risen from 37 last month to 100. New members include EnBW, Total and the State Grid Corporation of China. The platform was conceived to create an energy-blockchain ecosystem and to accelerate the energy transition.

The Sydney-based publicly listed renewables developer has completed the acquisition of the 50 MW Jemalong solar PV project in New South Wales. It has also commenced refinancing of a 50 MW solar projects that forms part of its landmark Kidston renewable energy hub, Australia’s first large-scale project to use pumped hydro to store solar generated power.

After reporting a $45 million loss in its half year results, the troubled renewable energy developer has suffered a new blow. The Western Australia government has terminated the $16 million financial assistance agreement for the Albany wave energy project, noting that unexpected proposal to change Federal Government’s R&D tax incentive scheme contributed to destabilization of the company’s financial position. 

In 2021, the settlement period for the supply of energy into the NEM will decrease from 30 minutes to five minutes, creating market conditions for batteries to start being deployed in the solar utility market. One of the world’s most respected inverter manufacturers is currently shipping central inverters that enable anytime integration of battery storage. Retrofits for already installed systems are on the next boat.