Finance

The two solar plants with a combined capacity of 14 MWp will represent the first Australian utility-scale PV projects in Photon Energy’s independent power producer (IPP) portfolio.

The Chinese-Canadian solar manufacturer reported a 41% year-over-year increase in total module shipments to 2.2 GW in the first quarter. Revenue grew by 70% to $826 million, while net profit improved significantly from $17.2 million to $110.6 million.

The ACT Government has allocated funding to undertake solar and sustainability upgrades on public and community housing and install solar batteries for two public schools as part of its fast-tracked infrastructure projects to support the local economy.

The controversial Snowy 2.0 project has mounted a major hurdle after the New South Wales government this week announced approval for its main works.

A national Technology Investment Roadmap, which is intended to drive a successful shift to secure, more affordable energy and lower emissions, has flagged support for new gas investments, carbon capture and storage, and “emerging nuclear technologies”. The long-awaited document has prompted a flurry of reactions.

As the fossil fuel industry applauds new legislative changes proposed by the Morrison government, which would pave the way for coal and gas projects to tap clean energy finance, environmental groups are shaking their heads in disbelief at the government’s lack of initiative to deliver a sensible climate policy. More than ever before, the fate of the Clean Energy Finance Corporation (CEFC) and the Australian Renewable Energy Agency (ARENA) is at stake.

The Palaszczuk Government is providing funding to accelerate a $1.5 billion transmission link stretching from Townsville to Mount Isa in North Queensland in a bid to stimulate large-scale solar and wind investment and underpin the creation of local battery industry.

The unique solar, wind, and battery project has been completed at Gold Fields’ Agnew Gold Mine, marking Australia’s largest hybrid microgrid of its kind.

The substantial surge in storage revenue due to specific grid conditions in Australia was one of the main factors behind a 61% year-on-year increase in revenues Neoen saw in the first quarter of the year.

Much has been made of the Covid-19 lockdown cutting global carbon emissions. Energy use has fallen over recent months as the pandemic keeps millions of people confined to their homes, and businesses closed in many countries. Projections suggest global emissions could be around 5% lower in 2020 than last year.