Finance

In its world-first application, hydrogen energy storage technology developed at UNSW Sydney will be installed in the regional town Manilla, which is set for one of Australia’s major community-owned solar farms. The storage deployment will be backed by an NSW government grant as part of a funding round that has awarded seven solar and battery community projects across the state.

The South Australian Government’s subsidy under the $100 million Home Battery Scheme will have its first planned reduction in five weeks’ time.

Despite a sizable pipeline of big PV projects, many EPCs have found it difficult to escape the pitfalls of Australia’s notoriously competitive market. The turmoil in the solar construction sector became evident with the collapse of the nation’s leading contractor RCR Tomlinson. It was further emphasized by Tempo Australia’s problems and last month’s withdrawal of Sydney-based contractor Downer Group. As the survival of the fittest continues, Mumbai-based EPC juggernaut Sterling and Wilson Solar (SWSL) is confident it has found a way to adapt and thrive.

UNSW will divest itself of fossil fuel assets by 2025 as part of its ambitious net-zero emissions goal. The global powerhouse of renewable energy and sustainability science is advancing rapidly towards energy purity as the capital flight from fossil fuels accelerates.

UK-based infrastructure investor John Laing will make no further investments in standalone solar and wind, following the write-downs taken on its European and Australian projects.

Tasmania has committed to being 100% renewable by 2022 and remains well on track to meet this target ahead of schedule. But the island state says it is well placed to set a more ambitious goal, which would see it double its renewable production and help mainland Australia reduce its emissions.

The developer has confirmed a nearly $30 million write-down on its troubled Kennedy Energy Park and entered into a binding agreement on a $1 a share takeover bid from a consortium that includes Andrew ‘Twiggy’ Forrest’s Squadron Energy.

The South Australian Government is expected to announce a decrease in the subsidy level and cap for its Home Battery Scheme this week, while the Victorian Government has more than doubled the eligible postcodes for its Solar Homes program.

The South Australian Government has partnered with sonnen to offer 188 families a locally assembled sonnenBatterie as they rebuild their homes.

You’ll recall that in 2019, an Australian National University Study identified 22,000 potential pumped-hydro energy storage sites across Australia. Altura Group, is proposing development of three east-coast sites that are also close to strong transmission connections, abundant renewable resources and load centres.