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Highlights

Developer Genex progresses with takeover bid from tech billionaire

After turning down the initial bid last month, Australian developer Genex Power this morning confirmed it will progress with a revised acquisition offer from a consortium of private equity firms led by Skip Capital, belonging to Australian technology billionaire and Atlassian cofounder Scott Farquhar.

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US giant BlackRock commits $1 billion to big battery developments in Australia

The world’s largest asset manager, US company BlackRock, has acquired Victorian battery storage developer Akaysha Energy and its portfolio of nine projects in the national grid.

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Lightsource bp begins construction on two solar farms in Australia’s east

Lightsource bp will reach financial close on its 400 MW (DC) Wellington North solar farm in New South Wales and its 90 MW Wunghnu Solar Farm in Victoria by the end of 2022, making it one of Australia’s largest solar developers.

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Rio Tinto mulls 4 GW of renewable proposals for its Queensland operations

Miner Rio Tinto has received offers to build more than 4 GW of solar and wind capacity after the company sought proposals to help it cut carbon emissions at its Queensland operations.

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Australian storage gets Victorian dairy farm to 95% renewables, saving ‘at least’ $70k in bills per annum

Fourth-generation Victorian dairy farmers this week commissioned their 250kW rooftop solar system coupled with 520 kWh of battery storage from Australian company Energy Renaissance. The couple are forecast to save at least $70,000 annually with the system, cutting their grid reliance by 95% and hopefully inspiring neighbouring farms.

‘Game changing’ electrolysis technology from NSW closes $42m funding round oversubscribed

Australian hydrogen tech company Hysata has raised over $40 million in funding, attracting backing from major institutional players including CEFC, Hostplus and Bluescope. Hysata is seeking to commercialise a breakthrough made at the University of Wollongong which CEO Paul Barrett describes as “brand new category of electrolyser” with 95% system efficiency.

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Australia ranks 4th in ‘staggering’ global storage markets

Wood Mackenzie places Australia fourth on its list of the globe’s top 10 storage markets, coming in just behind Germany, with the US and China unsurprisingly topping the list. The analyst expects the world’s cumulative storage deployments to reach 500 GW by 2031, according to its Global Energy Storage Outlook released today.

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Construction begins on world’s largest integrated green hydrogen, ammonia plant

In other news, German energy company Uniper said it will test a new salt cavern built for hydrogen storage, while Serbia and Hungary signed a memorandum of understanding to collaborate on renewable hydrogen.

Hornsdale big battery begins providing inertia grid services at scale in world first

South Australia’s 150 MW / 193.5 Hornsdale Power Reserve, more commonly known as the Tesla Big Battery, will now provide inertia services to Australia’s National Electricity Market after securing approval from AEMO. Neoen says it is the first big battery in the world to deliver the service at such a scale.

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Tesla reveals surging Powerwall numbers as it gears up to double EV sales

Tesla chair Robyn Denholm expects the company to double its EV sales in Australia by the year’s end, hoping to see its flagship product catch up to its Powerwall sales. Denholm also said Australia needs to expand its lithium refining and processing capacity at “sprinting pace” to properly capture the global battery opportunity.

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