Brookfield’s plans to acquire Origin Energy face a potential snag with the energy company’s largest shareholder, AustralianSuper, saying the $18.7 billion (USD 12 billion) takeover deal offered by the Canadian investment giant “substantially” undervalues the business.
Australia’s National Reconstruction Fund is up and running, with the federal government transferring the first $5 billion (USD 3.26 billion). The fund has already received around 100 proposals, with climate ventures and advanced technology reportedly dominating.
The Western Australian government has awarded contracts for its 500 MW / 2,000 MWh big battery in Collie and the 200 MW / 800 MWh extension to the existing Kwinana battery. China’s CATL is set to deliver the battery units for both projects, while Spain’s Power Electronics will supply inverters.
Japanese company IHI Corporation, which specialises in green ammonia technology to decarbonise industry, has joined the consortium of companies developing the green hydrogen hub HyNQ – North Queensland Clean Energy Project.
One of Australia’s best known solar recycling companies, Reclaim PV, has been handed down a windup notice by Victoria’s Supreme Court. The company’s insolvency highlights the deep issues of solar recycling and the complexity of trying to create circularity in an overwhelmingly linear approach.
German PV analyst Karl-Heinz Remmers looks at current price trends in the global and European PV industry. The figures he provides could explain how overcapacity and warehouses full of PV modules are affecting market prices.
A new report by Climate Energy Finance has revealed Australia’s diesel Fuel Tax Credit Scheme disincentivises growth in future industries and will cost taxpayers $37 billion (USD 23.8b) in lost tax revenue by 2030. The report also illustrates how capping these rebates represents a multifaceted advantage for Australian manufacturing of low and zero-emission mining vehicles.
The $54 million (USD 34m) raise for Zen Energy, managed by Western Australian Property developer Hesperia and ASX-listed Income Asset Management, is the first tranche of around $150 million that Zen Energy is aiming to raise for its pipeline of projects.
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