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Finance

India funds no new coal in 2021

The renewable energy sector (solar and wind) recorded project finance deals worth INR 33,893 crore ($6,832 million) in 2021. No new project finance for coal was reported.

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South Korean steelmaker to invest $60 billion in Australian green steel ventures

South Korean steel producer Posco Group will invest $60 billion (USD 40b) in Australia by 2040 across the green steel supply chain, including in renewable generation, electrolysis and steel making processes.

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Vast majority of Australian support home battery subsidy, poll finds

A poll of more than 2,000 Australians has found 78% agree the federal government should expand the national rooftop solar subsidy to include household battery storage. The concept has floated around for the last years, most notably in the form of a federal bill tabled by independent MP Helen Haines, but may have an uptick of support amid spiralling energy prices.


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Surprise as CWP Renewables sells to Twiggy Forrest company in $4b deal

Squadron Energy, part of the Forrest’s family’s Tattarang Group, has acquired one of Australia’s biggest renewables players, CWP Renewables. The deal, reportedly worth more than $4 billion (USD 2.7b), came as something of a surprise with Squadron’s bid undetected beside highly publicised offers from Iberdrola, Tilt Renewables and Origin.

Brisbane startup to build cathode material plant in Germany after securing EU funding

University of Queensland spin-off Pure Battery Technologies which has developed a greener, cheaper process for refining critical battery materials has received a $57.45 million (USD 38.5 million) loan from the European Investment Bank to build a demonstration plant in Hagen, west Germany.

Risen, Longi announce new solar factories

Risen and Longi have revealed plans to each build 10 GW factories, while Canadian Solar has reported solid earnings and Daqo has secured a big polysilicon order.

Weekend read: opportunity in the crisis

The developed world is facing scenarios of zero economic growth or even recessions, as inflation, energy costs, interest-rate rises, and tougher lending criteria makes life tough for business. But money is flowing into the energy transition by scaling and commercialising existing technologies, reports pv magazine’s Tristan Rayner.

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Rise of renewables sparks closure of Torrens Island gas power plant

Energy giant AGL has disclosed it will shutter its gas-fired Torrens Island B power station in South Australia within four years, citing the impending completion of a new electricity interconnector that will link power grids across three Australian states, unlocking gigawatts of new wind, solar PV and storage projects.

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ReNu completes capital raise to progress Australian, Indonesian green hydrogen projects

Queensland-based ReNu Energy has announced “firm commitments” for a capital raising of $4.5 million (USD 3 million) which it says will progress its green hydrogen projects in both Brighton and Launceston in Tasmania, as well as in Indonesia’s Riau Archipelago.

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Feds give CEFC $500m funding boost for renewable tech commercialisation

The Clean Energy Finance Corporation, effectively the federal government’s green bank, has been allocated a further $500 million (USD 332 million) to invest in the commercialisation of renewable energy, energy efficiency and other technology innovations.

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