Finance

President Ursula von der Leyen has outlined plans to fund her Green Deal with a mix of EU, member state and private sector contributions. Now it is over to individual nations and the European Parliament.

Spanish utility Iberdrola is investing $500 million in a massive hybrid renewable energy project in South Australia. The funding will pave the way for the landmark project developed by DP Energy to proceed following a significant delay.

The Australian peer-to-peer (P2P) energy trading pioneer has purchased a 250kW PV system that will utilize the company’s new energy data management and settlement system to provide greater visibility on renewable energy sold to a consumer under a 20-year power purchase agreement.

Australia’s green bank has partnered with Bank of Australia to deliver discounted interest rates to green home builders and buyers. The green home loan is the first Australian financial instrument to use energy efficiency measurement tools to determine eligibility.

South Australia’s largest water and sewerage services supplier is planning to invest more than $300 million in solar and energy storage during the course of this year as it moves closer to its ambitious goal of achieving a zero cost energy future.

The Australia Institute (TAI) has criticised the Government’s $2 billion bushfire recovery fund, questioning why the taxpayer should foot the bill when a levy on fossil fuel producers would be a better way of funding the recovery.

A microgrid installed on an apartment block in Melbourne will provide clean and affordable electricity to 52 low-income households. It is the first site of Ovida’s Community Energy Hubs project, which will deliver shared solar PV and batteries to more multi-tenanted buildings in the city.

Sydney-based developer Genex Power Limited (Genex) has fought its way back from several unlucky blows to achieve financial close for the 50MW Jemalong Solar Project and the refinancing of the 50 MW Kidston Solar One Project.

The Clean Energy Finance Corporation (CEFC) has come together with private sector infrastructure fund manager Infradebt to invest in smaller utility-scale renewable energy projects for community and commercial energy users. The move aims to close an investment gap for projects of 25 MW or less.

Fossil fuel giant Royal Dutch Shell has snapped up a 49% stake in one of the biggest Australian utility-scale solar developers furthering its expansion into the market.