Finance

John Laing Group has reported losses in Australia of some $121 million — said to be due to transmission factors on three of its renewable-energy projects — leading the company to write down the value of those projects and suspend new investment in Australian renewable generation.

The Australian supermarket giant will purchase more than 70% of the electricity generated by three solar power plants to be built and operated by Metka EGN outside the regional centres of Wagga Wagga, Corowa and Junee – the equivalent of 10% of Coles’ national electricity usage.

ANZ has extended its collaboration with the Clean Energy Finance Corporation, committing to facilitating a further $100 million of finance to help Australian businesses cut energy costs and reduce carbon emissions. Under the scheme, the bank is offering financial discounts for upgrades and new investments in solar PV, energy storage, EVs and other technologies.

Power purchase agreements for 8.6 GW of clean energy have been signed in 2019 till July—up from 7.2 GW at the same time last year—with USA alone accounting for up to 70% of the deals. India continues to lead the Asia Pacific region despite registering a slowdown in the activity – almost almost twice as much as the volume recorded in Australia.

AC Renewables, the energy arm of Philippines’ Ayala Corp, and Australia’s UPC Renewables have agreed to buy 51% in a 250 MW pumped hydro project and a neighboring 300 MW solar project, both located in South Australia.

The Brisbane-based energy storage manufacturer has raised $4.75 million in Series A funding from the Queensland Government Business Development Fund and Australian institutional and family investors.

The Clean Energy Finance Corporation (CEFC) and the Bank of Queensland Finance Division (BOQF) are teaming up to provide $100 million in financing for clean energy upgrades to their facilities, equipment and fleets. The BOQF Energy Efficient Finance will provide loans at a 0.7% discount, drawing on the CEFC funds, to businesses looking to invest in upgrades and equipment that will reduce emissions and deliver savings on energy costs.

A 1.6 MW community solar farm will support the Victorian town of Natimuk to reach its target of being 100% powered by renewable energy. The project is underpinned by state government funding.

Touted as the first green bond issued by a retail property landlord globally, the $300 million instrument will fund initiatives to enhance the environmental performance for three of the retail assets within the QIC Shopping Centre Fund portfolio. The green bond was five times oversubscribed and attracted new investors from across Asia and Australia, as well as a cornerstone investment from the Clean Energy Finance Corporation (CEFC).

For the second half of the year, the German inverter producer expects a significant increase in revenues and earnings, mainly due to high order intake. It also confirmed its forecast for the full fiscal year, despite declining sales and sales in the first six months of 2019.