Finance

From just a handful of large-scale solar PV projects a few years ago, Australia is becoming one of the world’s fastest-growing markets. With a substantial project pipeline, the country is in the box seat to experience a banner year in 2018, with the 2020 Renewable Energy Target (RET) now in hand and a new policy taking shape for the period beyond.

The Chinese technology firm has inked an agreement with EPC provider Biosar for a solar farm in Queensland, estimated at around US$ 30 million – a significant deal for the company’s thriving solar PV division.

‘Unprecedented challenge’ for fossil fuels as low LCOE for solar and wind power, allied to tumbling storage costs, sees renewables claim larger share of bulk and dispatchable generation while adding vital flexibility to global energy mix.

Last year, the Chinese module maker shipped 9.8 GW, and achieved revenue of $4.0 billion. Both gross and net profit, however, declined due to lower ASPs, higher polysilicon prices and increased output from OEM partners.

Major Australian brewer Cartlon United Breweries (CUB) has signed a 12-year PPA with BayWa r.e. to purchase 74,000 MWh a year from the 112 MW Karadoc solar farm in Mildura. The move will cut emissions and reduce power costs for the brewer.

Eon has announced plans to take over a 76.8% stake in the German utility, RWE’s renewable energy spin-off, Innogy. The acquisition is part of a far-reaching agreement between the two, which envisages redistributing operations so that RWE focuses on the renewable energy business, while energy networks and customer solutions would be the responsibility of Eon.

Western Australian households and small businesses may have to continue to rely on Synergy for their electricity. Media reports indicate that the WA Labor Government is backing away from plans to introduce full retail contestability (FRC) for residential and small commercial electricity consumers.

A new study led by University of Queensland researchers has revealed that community renewable energy projects are growing in Australia. Falling technology costs are empowering groups of people ordinarily unable to become ‘prosumers’ to get involved in the energy market.

The Chilean National Energy Commission will become the country’s first public entity to use Blockchain technology. The new program will begin in March.

A New South Wales energy management company has won ARENA’s funding for a smart swimming poll pilot project, which holds a promise to both manage peak demand and save pool owners up to 30% of their household electricity use.