Malaysian oil-backed company targets up to 8 GW in Australia, latest international player to invest multi-billions
Gentari, a subsidiary of Malaysian state-owned oil company Petronas, plans to build between 5 GW to 8 GW of solar, wind and battery projects in Australia by 2030. The ambition follows its acquisition and rebranding of Wirsol Energy, which marked the Malaysian company’s entry into the Australian renewable energy market.
Engineer report finds investment, not technology, is hamstringing Australia’s decarbonisation
A short report explaining upcoming challenges and solutions to electricity security has been published by the Australian Academy of Technology Sciences and Engineering (ATSE). The report calls for more investment to meet government targets and to keep consumer prices down.
ACEN to triple its investment in Australian renewables to $6 billion
Philippines-based AC Energy Corporation (ACEN) has confirmed plans to up its investment in Australia over the next three years to $6 billion (USD 3.86 billion). The company has been highly active in the Australian market this year, and with its increased investment is seeking to bring a further 3 GW of new renewable capacity online.
Shell looking to sell Sonnen
Shell, which acquired Sonnen four years ago, is now actively seeking a majority shareholder for the Germany storage system specialist.
Photon approaches FID with RayGen plant in South Australia
Dutch company Photon Energy is developing a project with 200 MW of solar coupled with 115 MW and up to 24 hours of thermal storage in Yadnarie using RayGen technology. Photon Energy hopes to reach a final investment decision (FID) on the Yadnarie project on South Australia’s Eyre Peninsula by about the middle of next year.
China solar module prices dive to record low
In a new weekly update for pv magazine, OPIS, a Dow Jones company, provides a quick look at the main price trends in the global PV industry.
WA wave energy company wins $6.3 million contract for Spanish coast
Western Australia-based company Carnegie Clean Energy has won a $6.3 million (USD 4 million) contract to deliver and operate a ~400 kW version of its wave energy converter off the Spanish coast by 2025.
WA lithium miner backs US giant’s $6.6 billion takeover bid, sparks unusual trading activity
The board of Australian lithium developer Liontown Resources has backed a refreshed $6.6 billion (USD 4.3 billion) bid from US company Albemarle Corp., the world’s largest lithium producer. Since then, Liontown has seen a massive spike in trading, with speculation about it being linked to Australia’s richest person.
SunCable sale complete, company lays out more subdued project scope
SunCable’s sale to Mike Cannon-Brookes’ Grok Ventures has today been completed, with the company flagging new project elements, including a subsea cable manufacturing and testing facility, as well as reiterating its vision of delivering bulk energy to Singapore via undersea cables.
NSW raises coal royalties, adding $2.7b to future budget
New South Wales has increased its coal royalty scheme for the first time since 2009 in a move that is expected to boost the state’s budget by more than $2.7 billion (USD 1.72b) from 2024 to 2028.
