Finance

A snapshot of how politicians, scientists, institutions, industry, and civil servants have reacted to the Intergovernmental Panel on Climate Change (IPCC) report, released yesterday.

In addition to securing debt financing from a consortium of banks, the Australian-Chinese renewables developer has entered into a long-term equity partnership with global infrastructure investor John Laing for the investment and development of the Sunraysia Solar Farm. John Laing confirmed it will invest $108.6 million in the project, taking a 90.1% stake.

The Asian Renewable Energy Hub’s generation capacity has been boosted from 9 GW to 11 GW, as Macquarie Group has pledged to invest in the project that aims to export power to South East Asia, as well as supply big miners and green hydrogen projects in the Pilbara region, Western Australia.

The All-Energy Australia 2018 exhibition & conference kicked off in Melbourne today. Safety of products and quality assurance was prominent in discussions at the country’s largest PV conference and trade show in its early hours. Big funding announcements at the opening plenary made headlines.

Despite lowering its 2018 sales and earning guidance, the German solar PV inverter manufacturer is moving forward with solutions, and is now looking to introduce a new three-phase string inverter to the Australian market. SMA says Australia has become one of its key PV markets.

As the deployment of renewable energy continues to expand around the world, driven by various inputs, such as capital allocation and investment, falling capital costs, competitive LCOE and various policy mechanisms, we are now moving towards a new era for renewable energy. ‘Renewables 2.0’ will have significant, wide-ranging consequences for all market players, as regulators reduce their support and power producers seek new revenue models. In this article, Duncan Ritchie, partner at Apricum – The Cleantech Advisory, will look at the key market developments for renewables, explode the myth of grid parity, highlight the need for flexibility and explain the importance of new financing solutions that are capable of meeting the new complexities brought about by ‘Renewables 2.0’.

While global coal mining companies are enjoying the highest prices in years on the back of strong Asian demand, banks and financiers are increasingly ending their support for coal power. London-based Standard Chartered the latest to stop financing new coal-fired stations.

The Dunsborough Community Energy Project is announced as Australia’s first privately funded virtual power plant.

With its license to sell electricity in Victoria still at risk after failing to provide performance data to the state energy regulator, AGL Energy has been hit with a record penalty for breaching its obligations under Victoria’s energy efficiency scheme.

Despite economic hardship caused by record numbers of solar PV installs that have led to a fall in residential demand, Western Australian state-owned retailer Synergy has posted an after-tax profit of $24.3 million for 2017-18.