Finance

Former Clean Energy Finance Corporation (CEFC) CEO Oliver Yates has joined the board of the Australian Solar and Energy Storage Council.

While known in the global solar sector as an Indian PV leader, if Adani Enterprises’ proposed Carmichael coal mine fails so too could the company. Analyst Tim Buckley says that if the coal mega project cannot be financed and has to be written off or sold cheaply, the company’s debt would be three times larger than the value of its assets.

Following hot on the heels of the WA energy minister’s approval to create a green power fund, the state-owned electricity provider is reportedly set to bring in a Dutch fund as an investment partner for its renewable energy projects.

The Singapore-based renewable energy developer has agreed to be sold to investment fund Global Infrastructure Partners. China Investment Corp, Canada’s PSP Investments and other co-investors are also involved in the deal, which is the largest yet seen for the renewable energy industry.

One of the world’s leading climate experts says Australia needs to aim for 100 per cent renewables within two decades as part of its efforts to meet climate targets, and it stands to reap enormous economic – and environmental – benefits if it does.

Although proposed in the report’s draft, the Australian Energy Market Commission’s final report on the Distribution Market Model does not mention imposition of charges for export of energy from distributed generators.

Launched in Paris during the COP21 summit, the International Solar Alliance, spearheaded by India and France, has this week welcomed Australia to the fold.

The Clean Energy Finance Corporation pledges AUS$20 million to part-fund the Pilgangoora lithium-tantalum project in Western Australia.