An ARENA-backed project will focus on addressing barriers to further renewable energy penetration in the Alice Springs local electricity network.
In addition to 330 MW of batteries already announced, Australia’s biggest power producer has unveiled a plan for another 850 MW of grid-scale storage, the bulk of which will be installed alongside its Liddell coal-fired power plant.
Big batteries derive most their value from replacing gas peaker plants and averting the installation of excessive amounts of transmission and generation infrastructure. However, batteries cannot replace all gas plants, MIT researchers found. From a holistic economics perspective, there is a certain share of storage that is considered cost-efficient. With battery costs declining, that share is constantly increasing.
The Australian government’s green bank has announced its $50 million investment in the green strategy of one of Australia’s largest industrial and logistics funds managed by Charter Hall Group.
The 50 MWh battery will be colocated with stage 1 of the UPC/AC Renewables’ 720 MW New England Solar Farm.
After demand under the share placement significantly exceeded the company’s capacity, the Sydney-based developer has decided to undertake an additional share purchase plan to secure funding for the development of its 50 MW/75 MWh Como battery project in central Queensland.
The Australian government’s green bank intends to move beyond solar and wind investment over the coming year and put its capital to work in the nascent green hydrogen industry and grid projects.
The Australasian Centre for Corporate Responsibility (ACCA), a shareholder advocacy group, has filed a Shareholder Resolution to AGL Energy calling for the expedited closure of its Bayswater and Loy Yang A coal-fired power stations. ACCA says that AGL’s own modelling contradicts both its climate commitment and its fiduciary responsibility.
Coming off a strong, profitable first quarter, Enphase sees the second-quarter results of Covid-19 in compressed revenue and a swing to a loss. Gross margins remain strong.
The Clean Energy Finance Corporation is set to become the cornerstone investor in a BNP Paribas’ issuance $140 million in new Australian green bonds through its Australian Climate Transition Index, an index for investors to parse the companies that will survive and thrive into a decarbonised future from those who will decay and die.
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