Green Investment Group, Macquarie Capital’s global green investment platform, has announced the acquisition of a significant solar development portfolio from German-headquartered EPC Conergy. The acquisition will see 88 solar experts join the GIG team.
A data center, which will be used for crypto and Bitcoin mining, will be powered by a combination of solar power generated at an adjacent 20 MW solar PV farm and coal-fired generator.
As the debate heats up in the run up to Friday’s COAG meeting, the Victorian government has issued a last-minute call to redraft the proposed National Energy Guarantee (NEG), and the Australian Capital Territory has redefined its NEG approval conditions in regard to the emissions target. Meanwhile, Australia’s peak renewable energy bodies have taken opposing positions.
An energy production and trading scheme designed for the Tonsley Innovation District in Adelaide will incorporate one of Australia’s largest rooftop solar arrays to provide energy to businesses and homes within the growing precinct.
According to the latest statistics from the Clean Energy Council (CEC), there are 42 wind and solar projects totaling 6239 MW worth close to $10 billion currently in construction or due to start soon across Australia. The unprecedented large-scale renewables activity is, however, surrounded by growing uncertainty over future policy and regulatory change.
In its annual reports, the Australian Energy Market Commission has proposed a number of changes to tighten Australia’s power system and improve reliability and regulation, reflecting on opportunities and challenges created by a significant increase in the uptake of distributed energy resources. The new recommendations are likely to encourage network development towards P2P energy trading, VPPs and electric vehicle charging.
The Australian Energy Market Operator’s wide-ranging and detailed Integrated System Plan prompted a flurry of media reactions that boil down to two conflicting interpretations of its purpose. Some interpreted the findings as a call to hold on tight to coal-fired power, while others a remarkable confirmation that renewables are the optimal electricity source of the future, and high penetrations are both practicable and cost effective.
The Australian arm of German project developer juwi is looking to acquire utility-scale solar PV projects in New South Wales and Victoria.
Perth-based blockchain startup Power Ledger has announced its first carbon credit project as part of its partnership with Chicago-based startup Clean Energy Blockchain Network and in collaboration with California’s municipal utility Silicon Valley Power. The company’s platform will manage credits generated by the use of solar energy in electric vehicle charging.
Solar PV capacity is set to grow 17-fold, and wind six-fold, by 2050, to account for nearly half of global electricity generation, predicts BNEF, while investments will reach US$11.5 trillion. Cost reductions will drive this charge, particularly in the battery market, which will benefit from the EV manufacturing ramp up. Despite this, the electricity sector is still failing to bring CO₂ emissions down to the required levels, with its continued dependence on gas.
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