Finance

Power purchase agreements for 8.6 GW of clean energy have been signed in 2019 till July—up from 7.2 GW at the same time last year—with USA alone accounting for up to 70% of the deals. India continues to lead the Asia Pacific region despite registering a slowdown in the activity – almost almost twice as much as the volume recorded in Australia.

AC Renewables, the energy arm of Philippines’ Ayala Corp, and Australia’s UPC Renewables have agreed to buy 51% in a 250 MW pumped hydro project and a neighboring 300 MW solar project, both located in South Australia.

The Brisbane-based energy storage manufacturer has raised $4.75 million in Series A funding from the Queensland Government Business Development Fund and Australian institutional and family investors.

The Clean Energy Finance Corporation (CEFC) and the Bank of Queensland Finance Division (BOQF) are teaming up to provide $100 million in financing for clean energy upgrades to their facilities, equipment and fleets. The BOQF Energy Efficient Finance will provide loans at a 0.7% discount, drawing on the CEFC funds, to businesses looking to invest in upgrades and equipment that will reduce emissions and deliver savings on energy costs.

A 1.6 MW community solar farm will support the Victorian town of Natimuk to reach its target of being 100% powered by renewable energy. The project is underpinned by state government funding.

Touted as the first green bond issued by a retail property landlord globally, the $300 million instrument will fund initiatives to enhance the environmental performance for three of the retail assets within the QIC Shopping Centre Fund portfolio. The green bond was five times oversubscribed and attracted new investors from across Asia and Australia, as well as a cornerstone investment from the Clean Energy Finance Corporation (CEFC).

For the second half of the year, the German inverter producer expects a significant increase in revenues and earnings, mainly due to high order intake. It also confirmed its forecast for the full fiscal year, despite declining sales and sales in the first six months of 2019.

Chinese PV module maker Risen Energy has announced it has achieved the highest jump in solar module sales in the Australian market in a one-year period.

The grant recipients for the fourth phase of the Next Generation Energy Storage program have been announced. Launched in 2016, the $25 million program is supporting the roll out of up to 36 MW of smart battery storage.

The Israeli inverter manufacturer saw its net profit decline 4% year-on-year to $33.1 million in the second quarter, despite shipping 1.3 GW and seeing a 43% increase in turnover. Gross margins were affected by the increase in U.S. tariffs on China made products.