Finance

South Australian company Accolade Wines has entered into a power purchase agreement for its Berri Estates facility with gentailer Origin Zero that will own, operate and maintain a rooftop solar array of 4,800 panels at the regional site.

The third edition of the Sinovoltaics financial stability report ranking lists India-based Abhishek Corp, Insolartion Energy, Waaree Renewable Technologies, and Solex Energy, all based in India, followed by United States-headquartered First Solar as the top five. Six additional manufacturers entered the global ranking.

Western Australia has locked in federal government funding to build a minimum 6.5 TWh of large-scale solar and wind projects and 1.1 GW of new storage to help ensure the electricity grid remains stable as the state continues its renewable energy transition.

Australian software developer PV Lighthouse has secured almost $2 million in federal to drive the continued development of its SunSolve Yield advanced simulation engine that is designed to improve yield forecasting for utility-scale solar projects.

Federal Energy Minister Chris Bowen says that a taxpayer subsidised nuclear power plant program would put investment in renewables on ice, stalling Australia’s energy transition by at least 11 years.

Greece-based resources and renewables company Mytilineos, now known as Metelen Energy and Metals, is looking to sell its Australian renewable energy generation and storage assets, including six operational solar farms totalling 284 MW.

Longi says it expects a net loss of CNY 4.8 billion ($980 million) for the first half of 2024, while Tongwei is bracing for a CNY 3 billion loss. Aiko Solar and TCL Zhonghuan, meanwhile, are predicting losses of CNY 2.9 billion and CNY 1.4 billion, respectively.

Australian battery storage developer Akaysha Energy has secured a $650 million debt deal that will accelerate the development of what is to be the largest four-hour battery energy storage system in the National Electricity Market.

Australian asset manager HMC Capital has signed a $50 million deal to acquire a majority stake in Sydney-headquartered battery project developer Stor-Energy as part of its push into the renewable energy sector.

More than $4 million will be delivered to seven commercial providers to support the installation of rooftop solar and electric hot water systems at scale as the Victorian government pushes ahead with its plan to transition to all-electric homes across the state.